On Thursday, March 28, Brazil’s popular stock exchange B3 announced that the country’s securities regulator has given them the go-ahead to offer Bitcoin futures to their clients. As per the reports, the trading for the same will begin next from April 17.
More Details Regarding the Bitcoin Futures Contracts
Brazilian crypto exchange B3, currently providing exchange-traded funds (ETFs) and ETF-related receipts for cryptoassets, indicated that the official launch date might still be subject to change. The exchange also added that the BTC futures contract will have a financial settlement without the need to buy and sell actual Bitcoins.
In an official statement, the company highlighted that the Bitcoin futures will be linked to the Nasdaq Bitcoin Reference Price, with each contract representing 10% of Bitcoin’s price in Brazilian reais. Speaking on the development to Reuters, B3’s superintendent of swap rates and currency products, Felipe Goncalves, said:
“The launch meets the de
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