Brazil’s B3 Exchange Launches USD-Denominated Ethereum and Solana Futures Contracts

Brazil’s leading stock exchange, B3, has expanded its cryptocurrency offerings by launching futures contracts for Ethereum (ETH) and Solana (SOL), marking a significant step in its strategy to broaden altcoin derivatives trading.

This move follows B3’s earlier milestone as the first global exchange to list an XRP ETF, highlighting Brazil’s growing role in the crypto market.

The new futures contracts are designed to meet the increasing demand from investors for crypto-linked products and to introduce more sophisticated trading options. Each Ethereum futures contract represents 0.25% of an ETH token, while each Solana futures contract corresponds to five SOL tokens. Both contracts are priced in US dollars and settle monthly on the last Friday, aiming to attract international investors by offering exposure to these popular altcoins through a regulated Brazilian platform.

Marcos Skistymas, B3’s Director of Products, emphasised the exchange’s commitment to innovation and providing diverse investment alternatives for those familiar with blockchain technology. He stated,

“B3 is offering new cryptocurrency derivatives instruments to meet the growing demand for products linked to cryptoassets, bringing more innovation and sophistication to our products”.

In addition to launching these altcoin futures, B3 has adjusted its existing Bitcoin futures contracts to lower the contract size from 0.1 BTC to 0.01 BTC. This change reduces the cost barrier for domestic retail investors, encouraging broader participation within Brazil’s local market. The altcoin futures, however, are primarily targeted at international traders.

While Brazil’s recent increase in crypto taxation may pose challenges for investors, the introduction of these futures contracts reflects B3’s ambition to position itself as a key player in the global crypto derivatives space. The exchange also plans to expand its altcoin futures offerings if the current products prove successful.

Meanwhile, Stablecoin issuer Circle saw a notable boost in investor confidence on June 11, with its shares (CRCL) closing 10.7% higher following two major announcements: a strategic partnership with Brazilian fintech Matera and the integration of its flagship stablecoin, USDC, into World Chain, the blockchain project led by OpenAI CEO Sam Altman.

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.