News reaching us on the 21st of September stated the interest of the Largest brokerage in Brazil to participate in the crypto space with the launch of its crypto exchange in the near future.
The Brazilian brokerage, Grupo XP, had its CEO, Guilherme Benchimol, speak about the launch of its about-to-be-completed crypto project with Bloomberg yesterday. He specified that the launch would take place anytime as from next month starting with 40 employees. The brokerage firm is actually the largest financial group in the country.
The firm however, is never tired of setting goals for itself as it plans to hit $1 trillion reais ($245 billion) by 2020. After the launch of the crypto exchange, the firm also intends launching a bank, said the CEO.
Benchimol said that he “must admit, this is a subject I’d rather think didn’t exist, yet it does, “we felt committed to begin progressing in this market.” He noticed that the organization is being pushed into the crypto business by the prevalence of digital forms of money among financial specialists. At least 3 million Brazilians now have the knowledge on how to operate Bitcoin and other cryptocurrencies whilst just 600,000 people actually invested in the stock market.