Brazil’s Major Investment Company to Launch Bitcoin Exchange

April 19, 2018

Largest investment company in Brazil XP Investimentos is trying to start an extra-exchange platform for Bitcoin trading. Anonymous sources have reported, there are reasons the company considering extra-exchange market.

XP Investimentos first declared about its crypto plans in August 2017 having registered XP COIN INTERMEDIACAO. Later that year the company was rebranded to XDEX after it had raised 5 mln reals (approx. 1.5 mln dollars). Since then it has received another 20 mln reals ($5.9 mln).

As for common attitude to cryptocurrencies in the country, Brazil is still cautious when dealing with Bitcoin though expressed some kind of interest in blockchain, in October 2017 the country’s central bank president Ilan Goldfajn compared Bitcoin with financial scheme and called it a financial assets with no ballast.

Timely is the investment giant entering the cryptocurrency market for now the country’s largest exchange Foxbix has faced many problems. Lately it failed for 72 hours. Some users found a loophole for double withdrawal of funds and made use of it over 130 times.

XDEX official website is already reserved yet without any content so far.


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