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16 July
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Enterprise blockchain consortium R3 will help Brazil's leading fintech company Banco Maré to build an individuals-focused stock exchange, reports Valor Econômico.

The so-called [BVM]12 platform will reportedly let anyone to directly invest in startups that bring profit to solutions to problems of the low-income population.

According to Valor Econômico, Banco Maré has already made the first informal consultation with the Securities and Exchange Commission of Brazi, which regulates the financial market, and plans to make the official request in August.

Alexander Albuquerque, Founder & CEO of Banco Maré claims "it's a pain to get investment in the favela."

"Focused on big investments funds want to know what the startups are doing, but when they find out they are working in the most dangerous regions of Latin America, they do not want it anymore," Albuquerque added.

Previously iHodl reported that Brazil's largest arabica-bean producer, Minasul, plans to launch its own cryptocurrency for coffee farmers for their day-to-day needs.

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