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Brazil's largest brokerage firm will enter cryptographic space by launching an exchange for Bitcoin (BTC) and Ethereum (ETH) in the near future, Bloomberg reported on September 21
Grupo XP Chief Executive Officer Guilherme Benchimol has told Bloomberg that the company will launch an exchange called XDEX in the coming months, with about forty employees. Grupo XP is the largest financial group in Brazil, comprising companies with various business models.
Reportedly, XP has forecast a $ 1 trillion reais ($ 245 billion) target in custody by 2020, which is four times what the company expects to raise by the end of this year. In addition, XP will start a bank in the coming months.
Benchimol said that "he must confess, this is a theme that I would prefer not to exist, but he does", adding that "we felt obliged to start moving forward in this market". He noted that the company is thrust into the business encrypted by the popularity of cryptocurrencies among investors. 3 million Brazilians "have an" exposure to Bitcoin, compared to only 600,000 investing in the stock market.
Initially, Grupo XP announced its plans to launch an over-encounter BTC exchange (OTC) in April. The move was declared the first for XP, which registered for the first time a company called XP COIN INTERMEDIACAO in August 2017. Later that year, after a capital injection of 5 million reals (about $ 1.5 million), the company renamed XDEX.
this week, the Administrative Council for Economic Defense (CADE) of Brazil has launched an investigation into six major national banks on alleged monopolistic practices in the crypted space. According to a CADE report, "major banks are imposing restrictions or even prohibiting … access to the financial system from cryptocurrency brokers". The banks claim that the broker accounts have been closed due to the absence or lack of customer data. [19659007] window.fbAsyncInit = function () {FB.init ({appId: & # 39; 1922752334671725 & # 39 ;, xfbml: true, version: & # 39; v2.9 & # 39;}); FB.AppEvents.logPageView (); }; (function (d, s, id) {var js, fjs = d.getElementsByTagName (s) [0]; if (d.getElementById (id)) {return;} js = d.createElement (s); js.id = id; js.src = "http://connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore (js, fjs);} (document, & # 39; script & # 39 ;, & # 39; facebook-jssdk & # 39;));
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