South America’s Largest Stock Exchange BM&F Bovespa Joins R3 Blockchain Alliance!

Rage Review : In recent weeks, insurance giant MetLife and Chinese financial institution Industrial and Commercial Bank of China have joined R3, and BM&F Bovespa, the largest stock exchange operator in South America, has also joined the R3 distributed ledger alliance. The company wants to strengthen market supervision, which shows that BM&F Bovespa is interested in mechanisms to improve transparency, because innovative technologies with proper supervision can make the Brazilian market more efficient and reliable.

Translation: Nicole

South America’s largest stock exchange operator has joined the R3 distributed ledger consortium.

Brazil’s BM&F Bovespa announced yesterday that it has joined the R3 blockchain consortium launched last September, joining a wave of financial institutions and startups in Latin America and around the world experimenting with blockchain.

Fabio Dutra, managing director of business development at BM&F Bovespa, said in the statement that the company wants to explore blockchain use cases to keep the company at the forefront of the market.

Fabio Dutra

Dutra said:

“Innovation with appropriate regulation is important because it can make the Brazilian market more efficient and reliable. Shared ledger technology plays an important role in this.”

While it is unclear exactly which aspects of blockchain technology BM&F Bovespa is looking to leverage, recent news that the company wants to enhance market regulation suggests that BM&F Bovespa is interested in mechanisms that increase transparency.

The BM&F Bovespa exchange, which originated in 1890, has spent the past year trying to expand its territory and become the main venue for stock trading activities in Latin America.

BM&F Bovespa follows insurance giant MetLife and Chinese financial institution Industrial and Commercial Bank of China joining R3 in recent weeks.