B3 to Tokenize Stocks via Blockchain Twin in H2 2026

B3, Brazil’s stock exchange, will build a blockchain “digital twin” of its depository database to represent securities as tokens beginning in the second half of 2026. The exchange also plans to issue a B3RL stablecoin later in 2026 that could be used for on-chain settlement if validated.

The first phase will copy the existing depository database onto a blockchain and record securities as tokens. Rodrigo Nardoni, B3’s vice president of technology, described the initial stage as “a faithful replica of the traditional depository database on a blockchain” and noted that trading those tokens will not be included at this point.

B3 intends to start the tokenization work in H2 2026 and to roll out B3RL later the same year. The stablecoin is planned to be backed mainly by cash and government bonds. B3 says the token and the stablecoin are part of an experimental setup that would need regulatory and operational approval before any settlement use.

Executives outlined a potential settlement model in which tokens and stablecoin payments could execute in a single, synchronized operation. Nardoni said the rise of stablecoins “could open up space for stock settlements using digital currencies in more direct and atomic models,” while stressing that this is a proof of concept rather than a commitment to change current practice.

B3 also expects a blockchain replica to help brokers and other market participants verify records and positions against a shared ledger, which could reduce reconciliation time and simplify position validation. The exchange emphasized the work is focused on testing and modernizing post-trade infrastructure rather than immediately launching token trading or replacing existing systems.

B3 will assess how digital tokens and a regulated stablecoin could operate alongside Brazil’s current clearing and settlement processes before any move to live trading or on-chain settlement.