The news sources from Brazil said a «Grupo XP», which owns brokerage firm «XP Investimentos», plans to launch the platform in the "coming months". It will support trading in Bitcoin and Ethereum.
Speaking at an event in Sao Paulo, the firm's executive officer, Guilherme Benchimol, said:
«I must confess, this is a theme I'd rather didn't exist, but it does. We felt obligated to start advancing in this market».
Benchimol was quoted as saying that the firm made the decision to launch the exchange – dubbed XDEX – because 3 million or so Brazilians already own some bitcoin, while far fewer, around 600,000, have holdings in stocks.
The move by «Grupo XP» comes as the environment for crypto exchanges in the country may be about to ease.
Brazil's antitrust watchdog said this week that it is investigating whether major banks in the country worked together to halt services to cryptocurrency-focused firms.