Grupo XP is the largest brokerage in Brazil, and now, the Chief Executive Officer, Guilherme Benchimol, informed, that they are going to launch a cryptocurrency exchange, under the name XDEX. The start is planned for the next a couple of months.
And this is not all. The company, which is now the largest brokerage in Brazil, is going to achieve the turnover of 245 billion USD by 2020 and to open the own bank.
The Chief Executive admitted that he would prefer this theme doesn’t exist, however, it does. That’s why, the group administration took a decision to advance in the market. As well, cryptocurrency is a major interest of investors, as the crypto-market is growing increasingly. For example, 3 millions of Brazilians are dealing with bitcoin in one or another way, while only 600,000 persons have invested in the stock market.
Initially, the company is planning to launch a bitcoin exchange in April. Further, Ethereum will follow.
Earlier this week the Brazilian regulator has launched a probe into the six major banks regarding monopolistic practices in the field of cryptocurrency. So, this is one more reason to start working with crypto-coins. While others are imposing restrictions or even block accounts connected with cryptocurrency, the company will start working with cryptocurrencies legally.