Welcome to our Tech roundup, with the biggest stories on technology and innovation in Brazil. This week: the projects of the CVM’s sandbox that are testing tokenized secondary markets for emerging companies.
Between last week and next month, two projects from the sandbox created by the Brazilian Securities Commission (CVM) will get off the ground, intending to kickstart a secondary market for startups and emerging companies in Brazil.
State of play. By using its sandbox, the CVM is testing a secondary market for securities issued or represented by tokens — that is, digital representations of real financial assets on a blockchain — in an organized over-the-counter market, i.e., in an environment with computerized systems and rules overseen by the CVM.
Why it matters. When it comes to investments, it’s all about liquidity. The interest of investors in reselling shares obtained through primary crowdfunding offers, for example, has existed since this type of operation was first regulated in Brazil in 2017.
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