Key Takeaways
Brazil’s B3 exchange will launch a tokenized asset platform by 2027, modernizing its traditional market.These tokenized securities will share liquidity with traditional stocks, though settlement delays remain.B3 also plans to launch a stablecoin, and is awaiting Central Bank approval to operate and custody digital assets.
Brazil’s B3 Expects to Implement Tokenized Asset Environment by 2027
The Brazilian stock market is on the verge of facing a major reorganization with digital asset technology at its core.
B3, Brazil’s largest stock exchange, expects to launch a tokenized assets platform during the first half of 2027. Humberto Costa, B3’s director of products and counter strategy, said that the infrastructure was being developed to build parallel integration with the current market structure, following existing settlement and trading conditions.
“You can already tokenize the action today with the current regulation, but some behaviors and new freedoms depend on some regulatory authorization or a new regulatory framework,” Costa stated at an event in São Paulo.
The project would allow these tokenized securities to be fungible with traditionally issued stocks, sharing prices and liquidity. Nonetheless, these will not be issued primarily on blockchain and will be represented by tokens linked to existing assets, with transactions settling in two business days.
“The initial objective is this is for you to be able to tokenize the share, deliver it to the investor’s hand […] and for them to be able to trade on the same book, at the same time,” Costa highlighted, stressing that to achieve continuous 24/7 trading and simultaneous settlement would require a regulatory overhaul. “Today, I cannot liquidate in an environment other than the environment I have today, which liquidates in D+2. I am not authorized today to do a sale in a different format,” he explained.
The exchange had announced this development in June, stressing that it was targeting the second half of 2026 to launch this new feature. Nonetheless, B3 now projects this system to launch in the first half of 2027. The exchange is still determining whether Brazilian depositary receipts (BDRs), which represent foreign stocks, and exchange-traded funds (ETFs) will be part of this new infrastructure.
Also, Costa reiterated that B3 would launch its own stablecoin but did not confirm if these two products would interact, at least at launch. B3 will request authorization from the Central Bank of Brazil to operate and custody digital assets to allow these projects to proceed.
