Brazil's largest investment company XP Investimentos is allegedly seeking to launch an over-the-counter Bitcoin exchange, local news outlet Portal do Bitcoin revealed Tuesday, April 17.
Appearing to confirm documents filed with Brazil's Department of Federal Revenue, anonymous sources told Portal do Bitcoin that the company was specifically eyeing the OTC market.
The reported move is the first for XP, which first registered an outfit called XP COIN INTERMEDIACAO in August 2017, the publication reports.
Later that year, following a 5 mln reals capital injection, the company rebranded to become XDEX, according to data from the São Paulo State Board of Trade.
Since then the company has received another 20 mln reals.
While showing interest in Blockchain technology like many governments worldwide, Brazil has generally remained suspicious of interaction with Bitcoin.
In October 2017, Ilan Goldfajn, president of the country's central bank, likened Bitcoin to a "Pyramid scheme" and described it as "a financial asset with no ballast."
XP Investimentos' alleged entry into crypto is thus a conspicuous rebuttal of establishment suspicion, the giant boasting 3.2 bln reals in assets under management.
An official website for XDEX is already reserved but currently contains no information.
Brazil's Biggest Investment Firm To Launch OTC Crypto Exchange, Local Sources Say
gepubliceerd op Apr 18, 2018
by Cointele | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.