According to CFO André Milanez, the company is constructing the infrastructure to give end users access to the crypto market.
B3, Brazil’s main stock exchange, wants to issue bitcoin (BTC) futures “in the next three to six months,” according to Chief Financial Officer André Milanez.
The exchange is actively constructing the infrastructure necessary to provide end customers with access to the crypto market. Milanez continued.
In January, B3 information technology director Jochen Mielke de Lima claimed the exchange planned to launch bitcoin and ether (ETH) futures in 2022/2023.
In December, B3 President Gilson Finkelsztain said, “It is logical for us to expand into the unregulated realm of cryptocurrencies,” adding that the company wanted to offer crypto services to traders rather than be a crypto exchange.
According to Equities Manager Marielle Brugnari, B3 currently offers exposure to crypto exchange-traded funds (ETFs) listed in the Brazilian regulated market. In Brazil, ten crypto ETFs are currently available.
I think that with time Bitcoin would be an important part of the global financial community. There has a been a significant increase in rate of government and commercial entities adopting the use of Bitcoin. Also government around the world have been enacting laws that either outrightly ban the use of Bitcoin and other cryptocurrencies or facilitate their use or adoption. I think that this signifies that Bitcoin is steadily becoming the preferable means of exchange and store of value in the global financial sector.
If one also takes a look at the developing blockchain ecosystem and at the rate at which blockchain technology is being applied to cater to different needs embodied in innovative projects such as Decentraland an online world that allows users to create their own avatars and purchase plots of virtual land, Planet Maya which is powered by champions games is a decentralized and collaborative online casino which allows developers to build Games around betting, Luckyblock which is a digital asset project that decentralizies the lottery process via blockchain technology, Silks a blockchain based metaverse that enables users to own, trade, and profit from thoroughbred racing horses. one would be able to predict that blockchain technology could have real life applications in every facet of our life especially sector wherein information can be stored a public ledger and transactions would be more transparent. This would without a doubt would increase the significance of Bitcoin in the global financial sector.
There have been calls for international bodies to make laws that strictly govern cryptocurrencies. The IMF is strongly opposed to Bitcoin adoption has it vehemently voiced it’s opposition strongly criticizing El Salvador and Central African Republic for adopting Bitcoin. I think that as time goes and has more people adopt Bitcoin that International bodies would change strategy and find ways safely harmonize
cryptocurrencies so that it benefits them.
News source: https://www.coindesk.com/business/2022/05/16/brazilian-stock-exchange-b3-to-launch-bitcoin-futures-within-six-months/
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