 Bitcoin exchange - XDEX Intermediacao - in a bid to attract banks and brokers from all across the world.){kind=link}
One of the largest investment firms of Brazil – XP Investimentos is working to laugh an Over-the-counter (OTC) Bitcoin exchange – XDEX Intermediacao – in a bid to attract banks and brokers from all across the world.
Although the brokerage firm refused to comment on the development, a source familiar with the matter told the local media outlet Portal do Bitcoin on April 17 that XDEX plans to engage in over-the-counter activities and focus on large-volume transactions involving Bitcoin and fiat currencies.
The brokerage has reportedly raised $7.5 million so far to fund this project’s development. Although Brazil has consistently supported blockchain technology, the country has preferred to maintain a cautious distance from direct involvement in Bitcoin-related activities.
However, XP Investimentos’ entry into the OTC Bitcoin space signals that the country’s largest brokerage will now directly participate in the digital currency market. This is because, Itaú Unibanco Holding SA has recently proposed to get a 75% stake in the financial service firm and a 50% stake in XP’s voting capital amounting to $1.7 billion.
Off lately, Bitcoin has been gaining a lot of popularity in Brazil.Students from the business and economics domain have urged universities to launch courses about the digital currency which includes a Master’s Degree Program.
More recently, the total number of Bitcoin investors in Brazil also surpassed the number of individuals registered on the Sao Paulo Stock Exchange.