The Brazilian stock exchange B3 has obtained a license from the country’s regulator to offer Bitcoin futures.
According to Reuters’ news on March 29th, the stock exchange operator of Brazil, B3, has received the green light from the country’s securities regulator to offer Bitcoin (BTC) futures.
It was stated that the futures will start on April 17th.
Currently offering exchange-traded funds (ETFs) on the exchange, B3 stated that the launch date could change. The announcement mentioned that the Bitcoin futures will be based on data from the U.S. stock exchange Nasdaq.
It was emphasized that each contract will be denominated in Brazilian reais.
B3 official Delibe Goncalves stated in a comment on the matter:
The launch meets the demand for a derivative that provides a hedge against price fluctuations of Bitcoin or exposure to the asset.
Since these contracts are futures, no actual Bitcoin will be bought or sold.
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