CoinDesk reports that BEE4 plans to allow public offerings of up to $19 million to companies with annual revenues of up to about $55 million. The platform will offer open bid book, trading floor and auction service as well as buy and sell orders on the Quorum network. Tokenized stocks are mostly pegged at 1:1 correlation to common stocks. This gives its holders the same benefits as ordinary stocks. These can be bought through cryptocurrencies or normal currencies.
Tokenized stocks can be traded 24/7. Some crypto exchanges and firms, such as the FTX exchange and Bittrex, offer tokenized stocks. Brazil’s only stock exchange B3 said last year that it was looking at launching services such as asset tokenization and digital asset custody. Earlier, Brazil’s largest private bank Itaú Unibanco announced the launch of an asset tokenization platform to help firms convert general finance products into tokens.
The Brazilian government recently launched a new blockchain network to tackle corruption in public spending. In Brazil, the use of technology is being increased in the government administrative system. This will help in increasing the efficiency as well as in monitoring. It will be used by many government institutions to improve their services and increase transparency in public spending. The Brazilian Senate passed the first bill to monitor the crypto segment. The aim of this bill is to bring this segment under the laws of the country. The regulatory framework for cryptocurrencies in Brazil may come into force this year.
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