Brazil’s Major Broker Company to Launch Its Own Crypto Exchange

September 24, 2018

Owners of one of the largest broker companies of Brazil, XP Investimentos SA, Grupo XP, have claimed they are going to start their own trade crypto platform.

According to the head of the company Guilherme Benchimol the number of local Bitcoin advocates have exceeded 3 million while there are around 600,000 traditional market investors:

“I must confess, this is a theme I’d rather didn’t exist, but it does. We felt obligated to start advancing in this market”.

The new exchange called XDEX will function independently from the rest Grupo XP organizations. The platform staff is reported to comprise 40 employees.

Note that last week Brazil adopted a number of regulations by which local funds can purchase crypto assets outside the country.

It is to be added here that Brazil’s Central Bank chairman Ilan Goldfajn called cryptocurrencies a bubble and Ponzi scheme.


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