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Brazilian Stock Exchange set to launch Bitcoin and Ethereum futures By BTC Peers

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Brazilian Stock Exchange to Launch Bitcoin and Ethereum Futures

The Brazilian Stock Exchange, B3, is set to launch its first official crypto-related product within the next six months, André Milanez confirmed in a conference call on Monday.

Milanez, who is the group’s chief financial officer, said B3 plans to launch “ futures in the next three to six months.” Milanez didn’t disclose any details about the product, as Milanez has not yet revealed if B3 will provide Bitcoin futures trading or if it will partner with an exchange to do so.

Jochen Mielke de Lima was the director of information technology for B3. He stated that B3 would offer crypto exposure in January. This includes futures and Bitcoin.

He also revealed that the Brazilian stock market had begun to examine the cryptocurrency markets from a technical standpoint in 2016. Particularly whether it was necessary to negotiate against the Brazilian real, or the US currency. A crypto-asset index for reais must be created if the latter is chosen.

In addition to its crypto futures plan, B3 is also looking to offer services to crypto exchanges, acting as a kind of “centralizer” of custody and settlement operations. Lima stated:

There are around 30 crypto exchanges in the country, plus international counterparts. They could be offered a service which would standardize and facilitate their operations. This could help in the provision of custody services as well as in the settlement process.

B3 also has other products that are crypto-based, such as a platform to trade crypto, tokenize assets, and custody.

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