According to the Chief financial officer André Milanez that the products Bitcoin and Ethereum will launch by the Brazilian Stock Exchange in the next few months(six months).
Brazilian Stock Exchange
On Monday, during the conference call André Milanez the group’s chief financial officer announced the verified plan that the official product within a few(six) months aimed to launch in the cryptocurrency market which is Bitcoin (BTC) futures trading and launched by B3, the Brazilian Stock Exchange (B3 is the Brazilian Stock Exchange).
Details about the product and how it will work, Milanez did not provide these explanations. It was stated that to launch this product time period is very short and it is unknown at this time what he will do after leaving the post and if B3 the Brazilian stock exchange will form a partnership. Milanez said, in the next few months (3 to 6 months), we plan to launch Bitcoin(BTC) futures.
In Brazil, now institutional investors can trade ETFs via B3 the Brazilian stock exchange. In Brazil, more than 25 investment funds offer a wide range of directions to the crypto assets that are approved by the Securities and Exchange Commission (CVM).
At B3 (the Brazilian stock exchange), the director of IT (information technology) had previously stated that in January 2022, B3 the Brazilian stock exchange will launch products including Bitcoin and Ethereum futures with the direction of cryptocurrencies.
The chief emphasized that according to the IT technical point of view, B3 the Brazilian stock exchange has been observing the cryptocurrency trading market since 2016.
According to the statement, the Brazilian stock exchange B3 only solves the problems and questions against the US dollar or the Brazilian real. He said reference indexes are the requirement of futures contracts and if the team will choose Brazil’s local currency, it will have to write a cryptocurrency index in reais – that no longer exists.
According to the representative of the Brazilian stock exchange (B3) that he was looking for methods to deliver data input for the country’s CBDC (central bank digital currency).
Brazilian Stock Exchange and national cryptocurrency:
B3 the Brazilian stock exchange plans to offer help to BTC and ETH futures the national cryptocurrency exchanges and, according to Jochen Mielke de Lima, for detention and settlement operations wants to make a centralizer.
Jochen Mielke de Lima
We have around 30 national crypto exchanges, apart from the international ones that operate here. We could offer a service to facilitate and standardize their operations. I believe it has something to explore in providing custody services and in the settlement process.
Mielke said that in trading, investment and settlement the cryptocurrency market and regulated stock market are similar. That’s why the common problems between exchanges solve by the Brazilian stock exchange (B3).
In 2022, the Brazilian stock exchange B3 plans to launch cryptocurrencies Bitcoin and Ethereum futures. For 2022, B3(Brazilian Stock Exchange) representatives stated they were anticipating the formal launch of a reinsurance platform.