October 10, 2018 |
Brazilian brokerage house XP Investimentos on Tuesday launched its cryptocurrency exchange Xdex, a digital currency initiative that will sit separately from the company's core business.
XP said crypto-assets needed to be separated from the brokerage area of the business because they are not considered securities.
Xdex will complete bitcoin-related transactions with no fees while ethereum-linked assets will be charged a 0.25% fee.
XP registered for a bitcoin brand in October last year and a month
Local investment firm unveils Xdex, a digital currency vehicle that will be separate from the brokerage arm of XP Investimentos