- B3 will let tokenized assets trade alongside equities using a liquidity pool system.
- A real linked stablecoin will handle payment transfer and clearing inside B3 markets.
- Crypto options on Bitcoin, Ether, and Solana await review by the CVM regulator.
Brazil’s main stock exchange, B3, plans to expand its role in digital assets through a tokenization platform and a real-pegged stablecoin targeted for launch in 2026. The initiative aims to integrate tokenized assets directly into the exchange’s existing trading and settlement infrastructure, according to B3 executives. The plan builds on years of crypto-linked products already listed on the exchange and places tokenization inside regulated market rails, pending approval from Brazil’s securities regulator, the CVM.
The exchange plans to let users tokenize and trade traditional assets using the same liquidity pool. B3 executives say this structure will allow investors and issuers to access tokenized products without changing existing workflows or market access. Could tokenized assets reach mainstream investors without creating a separate market layer?
Unified Trading Through a Shared Liquidity Model
B3’s tokenization platform will allow assets to be tokenized and traded directly on the exchange. Luiz Masagão, B3’s vice president of products and clients, said the tokenized and traditional systems will share one liquidity pool. “The token buyer won’t know they are buying from a traditional stock seller,” Masagão said. “This allows for a smooth transition, with both systems using the same liquidity.”
The exchange stated that fungibility between tokenized and traditional assets stands at the core of the design. As a result, liquidity from existing trading systems can support tokenized instruments without fragmentation or parallel markets.
B3 plans to base the system on its current market infrastructure. It also intends to offer open access to protocols and software development kits. These tools aim to help market participants develop and scale tokenized products within a regulated environment.
Real-Pegged Stablecoin for Settlement and Clearing
To support settlement, B3 plans to issue its own stablecoin linked to the Brazilian real. The exchange views the token as internal infrastructure rather than a retail payment product. “We are also going to launch a B3 stablecoin, which will serve as a tool to enable token trading,” Masagão said. The stablecoin will act as a payment and clearing mechanism inside the tokenized ecosystem.
By using a unified settlement token, B3 aims to reduce reliance on legacy cash processes. The exchange stated that this approach allows tokenized and traditional assets to coexist in the same liquidity pool.
B3 anticipates that the stablecoin will simplify the whole process of transferring, clearing, and settling various asset types. Moreover, the model is reducing the operational friction using external cash rails for tokenized assets.
Related: Valour Brings Solana ETP to Brazil’s B3 Exchange Market Hub
Crypto Derivatives and Regulatory Context
Alongside tokenization, B3 continues to expand crypto-linked derivatives. Products under development include weekly options on Bitcoin, Ether, and Solana, as well as event-based contracts tied to cryptocurrency prices. These instruments remain under review by the CVM. The review process reflects Brazil’s effort to keep crypto-linked products within supervised domestic markets.
B3 has built crypto exposure over several years through listed products tied to BTC, ETH, SOL, and crypto indices. The exchange listed its first crypto ETF in April 2021, well before similar products appeared in the United States.
According to B3, about 600,000 investors hold these products, which together represent roughly $2.4 billion in assets under management. Earlier this month, asset manager Valour listed four new crypto exchange-traded products on the exchange.
Brazil remains one of Latin America’s most actively regulated crypto markets. B3’s 2026 roadmap reflects preparation for a market where tokenized and traditional assets trade side by side within a single regulated framework.
