The biggest brokerage in Brazil intends to establish its BTC and ETH trading network before the end of this year. The announcement was confirmed by the CEO of Grupo XP, Guilherme Benchimol, who claimed that the brokerage would implement the two most dominant digital currencies into the operations of already existing brokerage infrastructure, which would further enable over three million Brazilian make their contributions in the digital assets.
The government of Brazil was previously reported to have initiated an inquiry into domestic banking and other big financial institutions, subsequent to submitted complaints regarding the cryptoexchanges, which allegedly obtained insufficient banking services.
The chief executive of the brokerage has also stressed that personally he is does not admire digital currencies as an asset class and consensus currency. However, he claimed that the firm feels obliged to begin moving in the market, because financing companies, similarly to banking institutions, have the requirement of meeting the needs of their clientele. This has become another progressive decision for the digital currency market of South America.