A large independent broke from Brazil opens a cryptocurrency exchange

According to Bloomberg report made on Thursday, a new crypto exchange will be launched soon by an independent broker company from Brazil. Grupo XP, owner of the broker firm XP Investimentos, decided to create an exchange platform and start it in several months. It will mainly focus on such coins as BitCoin and Ethereum. Despite […]

By - September 25, 2018

According to Bloomberg report made on Thursday, a new crypto exchange will be launched soon by an independent broker company from Brazil.

Grupo XP, owner of the broker firm XP Investimentos, decided to create an exchange platform and start it in several months. It will mainly focus on such coins as BitCoin and Ethereum.

Despite such a serious decision, experts doubt in the firm’s awareness of the crypto market calling it reluctant.

According to Guilherme Benchimol, the executive officer of the firm, he would prefer that the following theme did not exist at all, but the firm felt obliged to develop in this direction.

The main reason that made this company create the exchange was a huge number of people in Brazil, who own BitCoin already and ones who keep some holdings in stock – about 3 million and 600,000 respectively.
This step forward by Grupo XP may improve the environment that exists in crypto market in the country.

The words of the antitrust watchdog in Brazil state that it conducts an investigation if large banks in the country made an agreement how to serve firms working with cryptocurrency.

TokensDaily reports that 6 large banks of Brazil are checked by the Administrative Council for Economic Defense because of the shut accounts of crypto exchanges.

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