Brazil’s Biggest Brokerage Processes Bitcoin Trades, Gov’t Supportive

Brazil’s Biggest Brokerage Processes Bitcoin Trades, Gov’t Supportive

Chamber Articles Category: Economic News Post Date: 09/26/18 Source: CCN By: Joseph Young
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Grupo XP, the largest independent brokerage in Brazil, has publicly released its plans to launch a Bitcoin and Ethereum trading platform by the end of 2018.

Guilherme Benchimol, the chief executive officer of Grupo XP and XP Investimentos SA, stated that the business will integrate Bitcoin and Ethereum into the existing infrastructure of the brokerage, allowing more than three million investors in the country to invest in the asset class.

For many years, South America and Europe have lagged behind Asia and the US due to regulatory uncertainty, but the forward-thinking approach of the Brazilian government and the encouraging trend of major financial institutions entering the crypto market could potentially lead to exponential growth of the crypto market of Brazil, Argentina, and Venezuela. Read Full Article