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Tokenization Takes Brazil to a New Level of Competitiveness, Says CVM

Tokenization Takes Brazil to a New Level of Competitiveness, Says CVM

The agency’s superintendent stated that regulation of the subject needs to be accelerated for competitiveness reasons.

Asset tokenization takes Brazil to a new level of competitiveness, said Egmon Henrique, superintendent of the Brazilian Securities and Exchange Commission (CVM). Speaking about the Commission’s Tokenization Working Group, Henrique stated that regulation in this area needs to be accelerated to provide greater legal certainty.

“We need to accelerate progress on this issue because it is a matter of Brazil’s competitiveness. In public administration, everything becomes a priority, and tokenization is the priority that has been chosen,” he stated.

The CVM superintendent said it is important to recognize that Brazil is no longer merely receiving discussions originating in other countries. “We need to make this shift. An innovation such as a 24/7 trading model with instant settlement may be questioned, but it is happening, and investors are moving to these environments,” he observed.

Successful Tokenization Models

In his view, it is important to observe what is being done abroad, including projects launched outside the regulated environment.

“The way to attract capital to Brazil is to bring these models here. When security and innovation are combined, investors will come here. We need to be first so that the country can become a hub.”

Alongside him, Eric Altafim, a director at Anbima, discussed the potential of using tokenization in the collateral market.

“The traditional crypto market has perpetual contracts with automatic collateral settlement. Therefore, I do not need to require a 20% margin; I can require between 4% and 5%,” he explained.

In Altafim’s view, there is significant business potential to be explored in the tokenization of assets used as collateral. In this regard, he cited Anbima’s tokenization pilot project, which officially began in October 2025.

Henrique spoke during a panel at Token Summit Brasil, in São Paulo.