Brazilian investment company XP Investimentos will be released on the cryptocurrency market

According to reports from Brazilian media, the largest Brazilian investment company XP Investimentos plans to enter the cryptocurrency market and launch platform for the exchange of cryptocurrencies. In XP Investimentos is more than $ 35 billion from more than half a million investors.

About the new cryptocurrency platform it is little known. For these purposes, was registered by a new company XDEX INTERMEDIACAO LTDA with registered capital of $7.3 million.

“It is unknown what services will be available on the new site. According to the source, who wished to remain unnamed, most likely the main activity will focus on the so-called OTC market. That is, the movement of large amounts of capital and BTC,” — said the publication Portal do Bitcoin.

XP Investimentos has long been eyeing the cryptocurrency market. In October 2017, the company has registered the brand «XP Bitcoin.» The journalists ‘ questions in the company then explained that they study the cryptocurrency markets. A month later the company hired well-known in Brazil expert on bitcoin and economist Fernando Ulrich (Fernando Ulrich).

Today in Brazil there are no clear positions on the cryptocurrency. Two «competing» cryptocurrency Association created with the support of the cryptocurrency business, can not decide how to regulate the cryptocurrency in the country:

«There is legal uncertainty. Depending on the purpose, it may be considered as a means of payment or as a financial asset,» said Fernando Furlan (Furlan Fernando), the President of one of these associations.

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