Brazil Is Preparing To Initiate A Crypto Exchange

According to Bloomberg report on Thursday, Brazil’s largest sovereign broker also also known as parent company of Brazil is setting up a cryptocurrency exchange.

The news source declared that owner of XP Investimentos also known as Grupo XP, is preparing to launch a support platform for trading in bitcoin and ethereum in the coming months.

Although, even if this is a noteworthy action, the company seems uncertain about cryptocurrency world.

At an event in Sao Paulo, the firm’s executive officer, Guilherme Benchimol, declared that:

“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.”

Benchimol also mentioned that the firm made the decision to initiate the exchange – dubbed XDEX – caused by Brazilians at around 600,000, have holdings in stocks and by 3 million people invested and owned some bitcoin at this moment.

Grupo XP is aiming to reach serenity on environment of crypto exchanges in the country.

Brazil’s blunt adviser said that investigating is on going to see how to halt services for cryptocurrencies by major banks and focused firms by collaborating on last this week.

One last thing to mention that a report from CoinDesk of Administrative Council for Economic Defense declared that investigation for shutting down crypto platform accounts on the Banco do Brasil, Banco Santander Brasil, Banco Inter and others.

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