Brazil's main stock exchange, B3, is set to launch a tokenization platform and a stablecoin pegged to the Brazilian real in 2026. This initiative represents a significant move to integrate traditional financial markets with blockchain technology. The tokenization platform will allow for the issuance, trading, and settlement of assets on-chain, while the stablecoin will function as the settlement and payments layer for tokenized trades within the exchange's ecosystem.
B3's Vice President of Products and Clients, Luiz Masagão, explained that the platform is designed to ensure a seamless transition between traditional and tokenized assets. Buyers will not need to distinguish between tokenized and conventional assets when placing an order, as both systems will utilize the same liquidity pool. This shared liquidity model distinguishes B3 from other pilot programs that often keep tokenized assets on separate systems. The exchange aims to open access to protocols, SDKs, and other foundational tools, enabling market participants to develop and scale new tokenized solutions.
The stablecoin, pegged to the Brazilian real, is intended to streamline settlement for tokenized assets like credit, funds, commodities, and equities, removing friction between on-chain and traditional markets. Instead of relying on traditional fiat settlement cycles, the stablecoin will facilitate instant clearing of transactions within the exchange's closed environment. B3 views the stablecoin as critical infrastructure, rather than a retail-facing product, allowing the exchange to handle payments, transfers, and clearing without depending on legacy cash rails. Masagão noted that the B3 stablecoin fills a gap in the digitalized economy market.
This move builds upon B3's existing involvement with crypto assets, having launched its first crypto ETF in April 2021. Currently, B3 offers products tied to Bitcoin, Ether, Solana, and multi-asset indices, with approximately 600,000 investors holding these ETPs, representing around $2.4 billion in assets under management.
The tokenization platform and stablecoin are currently under review by Brazil's securities regulator, the CVM. If approved, the initiative could allow tokenized products to reach the same investor base that already trades ETFs, equities, and derivatives on the exchange. This reduces the barrier to entry for issuers exploring tokenized debt or equity, while providing investors with access to new formats without altering their existing workflows. The fungibility of assets ensures that token holders will have full rights to the underlying stock.
The launch of the tokenization platform and stablecoin signals a deeper integration of crypto infrastructure into mainstream finance in Brazil, which already has one of the most active regulated crypto markets in Latin America. B3's initiative is part of a broader trend among exchanges and market operators globally to incorporate tokenization into regulated settings.
