Brazilian stock market will increase supply of cryptocurrencies

Brazilian stock market will increase supply of cryptocurrencies

Among the offers planned for the next two years are the settlement and custody services, as well as products such as futures and options contracts and new exchange-traded funds (ETFs), B3 chief information and technology officer Jochen Mielke de Lima told Reuters.

“But they will all be initiatives adjacent to the main activity of providing infrastructure,” Lime said. “We are not going to open a cryptocurrency exchange to attract investors.”

An average of 80 million reais ($14.5 million) is traded daily through B3 in the five Brazilian cryptocurrency ETFs.

With prices falling in recent months, the value of contracts held in custody in B3 fell from 3.5 billion reais in November to 2.9 billion reais in December.

But nevertheless, the number of investors continued to grow, reaching 164,000 by the end of 2021. Lima said that B3 expects to launch new ETFs and is considering trading digital assets as non-fungible tokens.

Source From: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts