Blockchain
consortium R3 has partnered with Brazilian fintech company Banco Maré
to launch a stock exchange for investing in technology firms.
Banco Maré,
a blockchain-powered digital bank focused on financial inclusion,
intends to build a tokenized stock exchange offering investments in
technology companies with “social impact,” Cointelegraph Brazil reports July 16.
The
new R3 technology-backed platform, provisionally named BVM12, will
purportedly open a new funding source for technology startups, as well
as enable individual investors to generate dividends from investments in
new technologies, the report notes.
Rio de Janeiro-based Banco
Maré has reportedly conducted its first informal consultations with the
Brazilian Securities and Exchange Commission, and is reportedly planning
to make an official request to the agency in August 2019.
Banco
Maré CEO Alexander Albuquerque claimed that the new venture aims to
democratize risky investment and bring the low-income public to the
stock market.
Earlier in June, Cointelegraph reported
that the Brazilian government was considering a bill requiring all
units of local public administrations to promote new technologies such
as blockchain. Recently, the Brazilian diplomatic academy, the Rio
Branco Institute, was reported to start requiring candidates to have knowledge of cryptocurrencies and blockchain.
On July 12, the Brazilian state of Bahia launched a blockchain-based app to track the process of public bidding on government contracts.
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