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Brazilian Fintech BEE4 Launches First Local Tokenized Stock Market

Working in a regulatory sandbox, BEE4 will allow mid-sized companies to tokenize their public services on Quorum, a network that runs on Ethereum.

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil’s leading financial news publications. Follow CoinDesk Brasil on Twitter.

BEE4, a Brazil-based fintech company, plans to launch the first local market of tokenized shares in the next few weeks, BEE4 CEO Patricia Stille told CoinDesk Tuesday.

The company plans to recreate the structure of a stock exchange and will allow Brazilian companies with an annual turnover of $1.8 million to $55 million to issue to the public up to $19 million. .

Last September, BEE4 was selected by the Brazilian Securities and Exchange Commission (CVM) to participate in a regulatory sandbox, along with SMU, a secondary crowdfunding market, and QR Vórtx, a bond issuer and FIDC.

According to Stille, investments in early-stage companies have been reserved for large funds or investors with large amounts of capital and access to private rounds. “BEE4 comes to give ordinary investors access to this,” she said.

The BEE4 platform will provide buy and sell orders, open bid books, exchanges and auctions. It will run on the Quorum network, based on the Ethereum blockchain, on which companies will tokenize their public services, Stille said.

Asset cryptography is a hot area in Brazil. In December, Brazil’s sole stock exchange, B3, said it was exploring opportunities in asset tokenization, digital asset custody, and the crypto-as-a-service segment ( CaaS). And last week, Itaú Unibanco, Brazil’s largest private bank, announced plans to launch an asset crypto platform that can convert traditional financial products into tokens.