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Brazilian fintech firm set to launch a marketplace for tokenized stocks

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brazil

BEE4, a fintech company based in Brazil, is set to launch the first marketplace for tokenized stocks. The marketplace will be available within the next few weeks and will have the same structure as a stock exchange.

BEE4 set to launch a tokenized stocks marketplace

The CEO of BEE4, Patricia Stille, said that the company’s plan was to copy the same structure used by a stock exchange. It will also allow companies based in Brazil with annual revenues ranging from $1.8 million to $55 million to make public offerings of up to $19 million on the company.

In September last year, BEE4 was selected by the Brazilian Securities and Exchange Commission (CVM) to be part of a regulatory sandbox alongside other platforms such as the SMY crowdfunding market and QR Vortx, a tokenizer that issues FIDCs and bonds.

Stille said that investing in companies in their early stages was reserved for large funds or investors with a large amount of capital. The platform will support buy and sell orders alongside features such as an open bid book, auctions, and a trading floor.

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Stille said that the marketplace would be created on the Quorum network based on the Ethereum blockchain. It is through this platform that companies with tokenize their public offerings.

Growth of asset tokenization platforms in Brazil

Asset tokenization is becoming one of the most popular areas in Brazil. The only stock exchange in the country, B3, also announced plans to explore opportunities within the asset tokenization space.

B3’s asset tokenization service will also look toward other services such as digital asset custody and crypto-as-a-service (CaaS). B3 and BEE4 are not the only companies in Brazil launching asset tokenization services.

The largest bank in Brazil, Itau Unibanco, is planning to launch an asset tokenization platform that will transform products offered by the traditional finance sector into tokens. At the same time, the bank announced it would provide crypto custody services targeting its customers.

The new unit focusing on tokenized products will be exclusive to institutional clients during the initial stages. Moreover, a retail version of this product will also be launched towards the end of this year. When announcing the move, the company added that it would offer crypto trading services to its retail customers in the future. However, it did not offer any additional details about this.

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