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Brazilian stock exchange B3 is reportedly introducing new crypto products while the country's central bank pushes for more regulation.
According to Coindesk, B3 will launch Bitcoin options as well as Ethereum and Solana future contracts in 2025.
The move follows the introduction of Bitcoin futures contracts to the exchange last April, attracting $860 million in trading volume per month, compared to the $1.14 billion traditional crypto exchanges experienced last month.
Meanwhile, the central Brazil's central bank president, Gabriel Galipolo, has raised concerns over regulating the industry as the country experiences an increase in crypto transactions. Stablecoins make up 90% of the crypto activity in the country.
Speaking at a Bank for International Settlements event in Mexico City, Galipolo said, "Most of that is to buy things and to shop things from abroad," emphasizing that this usage "maintains some kind of opaque vision for taxation or for money laundering."
He suggested that Brazil's Drex initiative, which he clarified is not just a CBDC, could be a potential solution to improve credit with collateral assets. Drex could be used to lower borrowing costs and will use distributed ledger technology to settle interbank transactions.
Brazil's real-time payment system, Pix, could also enable integration with international instant payments to facilitate cross-border transactions.
Last August, Brazil was the first to approve a Solana spot ETF. The approved Solana ETF references CME CF Solana Dollar, which is developed jointly by the Chicago Mercantile Exchange (CME) and Crypto Facilities (CF) to provide a uniform price quote for Solana.
Perion Lim
