Largest Brazilian Brokerage Firm to Launch OTC Brokerage

Bitcoin may now become increasingly evolving and BTC traders maybe selling off BTC futures heavily. However, now, the OTC bitcoin trading market is attracting important banks, institutions, and brokers from different parts of the world. One of the largest securities brokerage in Brazil is working on a new venture in the crypto space.

Financial services firm XP Investimentos SA, operating the largest securities brokerage in Brazil, is reportedly behind a new company called XDEX with around $7.5 million in capital. Portal do Bitcoin did some research and connected the two companies.

At the moment there are no official statements on the matter and which kind of services the brokerage will be providing to its customers. However it is known that XDEX will be operating in the OTC market.

XDEX enterprise has another name: XP Coin Intermediacao. At the same time, the news outlet explains that between November 2017 and February 2018, the company received R$ 25 million (7.4 million dollars).

BITCOIN IN SOUTH AFRICA

Bitcoin has been becoming popular Brazil, leading to number of interesting recent examples.Brazil has been light on cryptocurrency regulation. In December 2017, Brazil’s central bank and securities regulator issued a joint warning to investors that virtual currencies had no official oversight in the country.

Brazilian business and economics students have now gotten the universities to launch courses about the cryptocurrency, including a Master’s degree program in Crypto Finance.

Brazil has an estimated GDP between $2 and $3 trillion. Thus, brokerage people would not have any trouble looking for investors who could put their big money in these trading firms. With this, Brazil is becoming a leader in Latin America for Crypto investments and related businesses.

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