Brazil's B3 exchange plans to launch a tokenized assets platform during the first half of 2027, modernizing how securities trade on the country's largest stock market.
The tokenized securities will be fungible with traditionally issued stocks, sharing prices and liquidity on the same trading book. However, transactions will continue to settle in two business days under current conditions, with tokens representing existing assets rather than being issued primarily on blockchain.
Humberto Costa, B3's director of products and counter strategy, explained that while tokenization is possible under existing regulation, expanded capabilities depend on regulatory changes. "You can already tokenize the action today with the current regulation, but some behaviors and new freedoms depend on some regulatory authorization or a new regulatory framework," Costa said.
Advanced features like continuous 24/7 trading and simultaneous settlement would require regulatory authorization. "Today, I cannot liquidate in an environment other than the environment I have today, which liquidates in D+2. I am not authorized today to do a sale in a different format," Costa noted.
B3 previously targeted the second half of 2026 for launch but has adjusted the timeline to the first half of 2027. The exchange is still evaluating whether Brazilian depositary receipts and exchange-traded funds will be included in the new infrastructure.
Additionally, Costa confirmed that B3 plans to launch its own stablecoin, though it remains unclear whether these products will interact at launch. B3 must obtain authorization from Brazil's Central Bank to operate and custody digital assets for these projects to proceed.
