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Brazil’s crypto landscape saw major developments this week, led by plans from the country’s largest stock exchange to issue a stablecoin.
B3 confirmed it intends to launch its own stablecoin in the first quarter of 2026.
The stablecoin will initially function as a liquidity tool for tokenised asset trading.
B3 vice president of products and customers Luiz Masagão said the initiative reflects accelerating adoption of new financial technologies.
It can be much more than that. With the slimming down of DREX, the market has a demand for an asset to liquidate the entire digital economy.
Luiz Masagão said.
The announcement positions B3 as a key institutional player in Brazil’s digital asset infrastructure.
Attention also turned to new revelations surrounding the launch of the Libra token in Argentina.
Local media reported that Libra’s rollout followed months of behind-the-scenes planning.
According to Clarin, a private launch event was held at a luxury hotel in Dallas with more than 20 attendees.
The report linked Argentine entrepreneurs Mauricio Novelli and Manuel Terrones Godoy to the organisation of the event.
Both figures reportedly had prior contact with Argentine President Javier Milei.
An anonymous whistleblower known as K said Milei was informed about Libra before its public debut.
The source claimed Milei was given the token’s contract number in advance
When it was finally posted on X, the room erupted in celebration.
The whistleblower said.
The revelations have raised questions about political awareness and involvement in the token’s launch.
Elsewhere in Brazil, fintech giant Nubank is exploring the acquisition of a traditional bank.
The move would allow Nubank to comply with updated Brazilian regulatory requirements.
New rules approved in November restrict fintech firms from using names suggesting they are licensed banks.
Nubank, which serves more than 110 million customers across Latin America, does not currently hold a banking licence.
Acquiring a small bank could provide regulatory compliance and potential tax benefits.
Analysts say the move reflects tightening oversight of large fintech firms in Brazil.
The developments highlight growing regulatory and institutional engagement with crypto in Latin America.
At the time of reporting, Libra price was $0.005781.