This was the phrase used by the founder of B4 during the launch of the First Climate Action Exchange in 2023. Since then, the sustainability market has evolved and received Brazil’s first regulation. In fact, the country faces the great challenge of developing this market and becoming the powerhouse it has the potential to be.
Although the market has positioned us as the First Climate Action Exchange, this name was highly symbolic. Without considering mergers and acquisitions, no exchange had been established in Brazil for over 60 years.
But the big question is: what is the difference between B3, the Brazilian Stock Exchange, and B4, the First Climate Action Exchange?
Distinct Markets and Objectives
B3 operates directly in the capital market, serving as Brazil’s focal point for stock and corporate securities trading.
B4 operates in the sustainability market through digital and sustainable assets, one of which is carbon credits. Our goal is to serve as a bridge between companies and the tools they need to achieve their sustainability goals.
While B3 connects with trading books and operations through brokers and banks on its trading platforms, B4 was born in the decentralized market, operating directly on its own platform and integrating with Web3.0-based brokers, namely other crypto-asset exchanges, with a highly differentiated approach.
The technological foundation solidifies the difference between the exchanges. While B3 operates in the Web2.0 universe—known as the traditional market—acting as a registrar of assets for banks and funds to consult, B4 leverages blockchain technology for the traceability of digital assets in the Web3.0 universe, ensuring access, transparency, and decentralization, allowing real-time consultation of every listed asset.
Differences Between Web2.0 and Web3.0 Markets
While the capital market is beginning to adopt digital assets through bold initiatives from fintechs and investment funds like BlackRock, the crypto-asset universe continues to expand globally. In Brazil, it is growing rapidly, providing accessibility that the traditional market has never offered.
By transforming real assets via blockchain, unique benefits emerge, with the greatest being digital fractionalization. This allows individual investors to access financial products that previously had high entry barriers. For example, an investment that once required a minimum entry of one thousand reais can now be accessed with much smaller amounts.
The Web3.0 market also offers an entirely different level of transparency. In the traditional model, investors may need to wait months for a report—and even then, rely on a system susceptible to alterations. The decentralized market, on the other hand, enables real-time tracking. Every transaction can be monitored, ensuring that the data presented in reports aligns with the company’s actual transactions.
Regulation of Each Exchange
B3, by trading securities such as stocks and derivatives, is regulated by the Brazilian Securities and Exchange Commission (CVM), in accordance with Laws No. 6.385/76 and 6.404/76, which establish rules for Brazil’s securities market.
B4, on the other hand, operates with utility tokens—digital and sustainable assets that provide access to products and services—and is regulated by the Central Bank of Brazil under the country’s cryptocurrency regulatory framework. This regulation aims to ensure the integrity and security of crypto-asset operations, fostering investor confidence and financial market stability.
Summary of Key Differences
| What is it? | B3: Brazilian Stock Exchange | B4: World’s First Carbon Credit Exchange |
| What does it trade? | Stocks, bonds, and other financial assets | Carbon credits and sustainable assets |
| How does it work? | Investors must have an account with brokers | Investors can purchase carbon credits directly on the platform |
| Uses blockchain for registration and traceability? | No | Yes |
| Format of traded assets? | Stocks traded through brokers | Utility Tokens traded directly on B4’s Exchange |
✅ To get a carbon footprint diagnosis for your company in less than 24 hours, visit Agente do Clima > https://agentedoclima.com/
📌 To register on the platform, visit: https://exchange.b4.capital/.
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