A major investment company in Brazil, XP Investimentos, managing over $35 billion for over 500 000 active clients, is going to launch a cryptocurrency exchange.
According to local source Portal do Bitcoin over the past few months XP Investimentos has been working on a crypto coin strategy.
It also filed documents with the Department of Federal Revenues to register a new company — XDEX Intermediacao LTDA with a capital of $7,3 million.
Later, the investment giant hired Fernando Ulrich, a Brazilian reputed cryptocurrency expert.
While not much is known about the new cryptocurrency exchange, several sources reveal that company is focusing on over-the-counter trading.
There is no official confirmation from XP Investimentos yet.
By Ksenia Batanova