Brazil's largest stock exchange, B3, is preparing to launch a tokenized stock trading platform by the first half of 2027. The project aims to integrate digital asset technology with the existing market structure, allowing tokenized securities to trade alongside traditional stocks. Humberto Costa, B3’s director of products and counter strategy, noted that while current regulations permit tokenization, broader adoption requires new regulatory frameworks.
The platform will enable tokenized stocks to be fungible with traditionally issued shares, maintaining the same pricing and liquidity. However, these tokens will not be issued directly on a blockchain but will represent existing assets with transactions settling in two business days. Costa emphasized the need for regulatory changes to achieve continuous 24/7 trading and simultaneous settlement, as current systems only allow for D+2 liquidation.
Originally targeted for the second half of 2026, the launch has been pushed back to early 2027. B3 is still deciding whether Brazilian depositary receipts (BDRs) and exchange-traded funds (ETFs) will be included in the new infrastructure. Additionally, B3 plans to issue its own stablecoin but has not confirmed if it will interact with the tokenized assets platform at launch. The exchange will seek authorization from the Central Bank of Brazil to operate and custody digital assets to proceed with these projects.