News By  Kateryna Salnichenko
Newbie 1330 16 May 2022
Newbie

Brazilian stock exchange plans to launch bitcoin futures

The B3 stock exchange announced the imminent launch of Bitcoin futures. Representatives of the leading Brazilian trading platform told the resonant news during a conference call while reporting for the first quarter.

According to CFO André Milanez, the exchange is actively working to create infrastructure and tools for the cryptocurrency market. As soon as the preparatory process is completed, the site clients will get access to operations with digital currencies.

Details about the project were not disclosed. The management of B3 has shared only information about the launch of BTC futures with the public. It should take place within the next three to six months.

Earlier, Marielle Brugnari, an expert on non-cash shares of the exchange, recalled that cryptocurrency ETFs have been offered for more than a year. So, to date, ten exchange investment funds for digital currencies are represented on the Brazilian market.

As for the launch of new cryptocurrency projects, information about them began to appear over the past six months. In December 2021, the president of the exchange, Gilson Finkelsztain, announced the upcoming entry into the cryptocurrency market, specifying that B3 only considers the direction of providing services to crypto traders without transforming into a full-fledged crypto exchange. In January 2022, CIO Jochen Mielke de Lima confirmed the chosen strategy. He shared data on the launch of Bitcoin and Ethereum futures in the period between 2022 and 2023.