B3, Brazil’s largest stock exchange, now expects to roll out its tokenized assets platform in the first half of 2027, according to product and counter strategy director Humberto Costa. The updated timeline moves the project beyond the second-half 2026 target the exchange had outlined in June.
The planned system is being built to operate alongside the existing market structure rather than replace it. B3 has said the goal is to tokenize securities while keeping them aligned with the current trading and settlement framework now used in Brazil’s stock market.
Parallel market design
Costa said the infrastructure under development is meant to integrate in parallel with the current market. Under that approach, tokenized securities would follow the same trading and settlement conditions already in place, instead of introducing a separate market with different pricing or liquidity.
B3’s stated objective is to tokenize the share, deliver it to the investor, and allow trading on the same order book at the same time. The exchange says those tokenized instruments would be fungible with conventionally issued stocks, meaning they would share the same prices and liquidity as their traditional counterparts.
What regulation already permits
According to Costa, existing rules already allow a share to be tokenized. But he also said some of the features commonly associated with digital asset markets would depend on regulatory approval or on a new regulatory framework.
For now, transactions in the proposed environment would be represented by tokens linked to existing assets, with settlement continuing on a two-business-day basis. That reflects B3’s plan to stay within the current structure while broader changes are still subject to official authorization.
24/7 trading still depends on approvals
B3 indicated that around-the-clock trading and simultaneous settlement are not yet part of the framework it can implement on its own. Costa said those capabilities would require regulatory changes before they could be introduced.
That means the first version of the platform, if launched on the current schedule, would focus on tokenized representation and integration with today’s market mechanics, rather than immediately delivering a fully continuous digital trading model.
Open questions around scope and next steps
The exchange has not finalized which products will be included in the new infrastructure. It is still assessing whether Brazilian depositary receipts, known as BDRs, and exchange-traded funds will be part of the tokenized platform.
Beyond the trading venue itself, B3 also plans to issue its own stablecoin and seek authorization from the Central Bank of Brazil to operate and custody digital assets. The next confirmed milestone is the exchange’s revised launch target for the first half of 2027, while key features such as 24/7 trading remain dependent on future regulatory decisions.
Source: news.bitcoin.com