According to a recent news by Bloomberg, Grupo XP, that also owns brokerage company XP Investimentos, plans to launch the platform within the “coming months,” the news supply aforementioned, adding it’ll support commerce in Bitcoin [BTC] and Ethereum [ETH].
However, despite this notable move, the company seems a bit reluctant to dip their toe within the crypto ecosystem.
Speaking at a conference in ‘Sao Paulo’, the company’s executive officer ‘Guilherme Benchimol,’ mentioned:
“I should confess, this is a theme i would rather didn’t exist, but it does. We felt obligated to start out advancing within this market.”
Benchimol was further quoted adding that the company created the choice to launch the exchange – named XDEX – as three million or so Brazilians already own some crypto currencies, while fewer, around 600,000, have holdings in stocks.
This move by ‘Grupo XP’ comes as the ecosystem for crypto exchanges within the country may be about to ease.
Brazil’s antitrust watchdog aforementioned in the week that it’s investigating whether or not major banks within the country worked along to halt services to digital currency-focused companies.
As previously reported earlier, the Admin Council for Economic Defense aforementioned it had been investigating the Banco do Brasil, Banco Santander Brasil, Banco Inter along with others for shutting down crypto platforms’ accounts.