According to recent news by ‘Bloomberg,’ CEO of Grupo XP Guilherme Benchimol mentioned thatthe corporatewould belaunching an exchangeknown as‘XDEX’within theupcoming months, with around fortyworkers. Grupo XPis thebiggestfinancialclusterin Brazil, comprisingfirmswithseveral otherbusiness models.
XP has reportedly set a goalto own$245 Blnbeneathcustody by 2020,thatisfour times whatthe corporateexpectsto liftbythe endof this year.additionally, XPwouldlaunch a bankwithin thenext few months.
Benchimolmentionedthat he “must confess,this is oftena themeI’d rather didn’t exist,howeveritdoes,” adding that “we feltobligatedto start outadvancingduring thismarket.” He noted thatthe corporateis being pushed into the crypto business bythe recognitionof digital currencies among investors.Threemillion Brazilians “have exposure” to Bitcoin, compared tosolely600,000 that investwithin thestock market.
Initially, Grupo XPdeclaredits plans to launchanover-encounter (OTC) BTC exchange inApril. The move was reportedlythe firstfor XP,thatinitiallyregisteredan outfitknown as ‘XP COIN INTERMEDIACAO’ earlier in Aug. 2017. Later that year, following a $1.5 Mln capital injection,the corporaterebranded to become XDEX.
Earlier this week, Brazil’sAdminCouncil for Economic Defense [CADE] launcheda researchinto six major national banksconcerningallegednoncompetitivepracticeswithin thecryptospace. As per the report, “the main banksare imposing restrictionsor maybeprohibiting … access to thefinancial systemby digital currency brokerages.” The banks reportedly claim that the brokers’ accounts were closeddue tothe absence or lack ofconsumer knowledge.