Brazil’s Securities and Exchange Commission, known as the CVM, has launched an experimental program for tokenized securities under Resolution No. 249. The initiative will test simulated stock trading, as well as securities issuance, operation and administration, on blockchain networks. The pilot will run in a controlled environment using specially created mock stocks and funds, meaning it will not expose participants to real financial risk.
The regulator said the project will compare the strengths and limitations of public and private blockchains for securities activity. It will also assess risks tied to cybersecurity, smart contracts, interoperability and network resilience. Blockchains joining the pilot must encode market rules into smart contracts, while securities operations must preserve privacy and remain open to regulatory audit.
The CVM also plans to use AI tools to assist market monitoring. Separately, according to Bitcoin.com News, B3, Brazil’s largest stock exchange, is building a tokenization platform scheduled for launch in 2027. The platform is expected to use an in-house stablecoin, will not offer round-the-clock trading at the start, and is designed to combine liquidity pools from digital assets and traditional markets.
Brazil’s Securities and Exchange Commission, the CVM, has launched an experimental program for tokenized securities under Resolution No. 249, opening a test of simulated stock trading and securities issuance, operation and administration on blockchain networks.
The project will run in a controlled environment. The stocks and funds used in the test are specially created simulated assets, so the program does not involve real financial risk.
According to the announcement, the CVM will compare public and private blockchains for securities use cases and evaluate risks tied to cybersecurity, smart contracts, interoperability and network resilience.
Blockchains participating in the pilot must embed market rules into smart contracts. Securities operations must remain private while still allowing audits by regulators. The CVM also said it will use AI tools to support market surveillance.
Separately, according to Bitcoin.com News, B3, Brazil’s largest stock exchange, is building a tokenization platform that is planned to go live in 2027 and use an in-house stablecoin. At the initial stage, the platform will not provide 24/7 trading and will combine liquidity pools from digital assets and traditional markets.
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