Bitcoin has been evolving as an investment instrument in several countries. The Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) offer Bitcoin futures to their investors. But the OTC bitcoin trading market is attracting important banks, institutions, and brokers from different parts of the world. One of the largest securities brokerage in Brazil is working on a new venture in the crypto space.
Brazil Brokerage Invests in OTC Brokerage
The financial firm XP Investimentos SA, that operates the largest securities brokerage in Brazil, is entering the crypto domain by registering a new company known as XDEX Intermediacao. 
At the moment there are no official statements on the matter and which kind of services the brokerage will be providing to its customers. But according to an anonymous source that talked with Portal Do Bitcoin, XDEX will be operating in the OTC market.
That’s a very important information due to the fact that the biggest bank in Brazil Itaú, has the intention to buy an important stake of XP’s voting capital. Apparently, the transaction would be for about $1.7 billion dollars.
As reported by Portal Do Bitcoin, the Junta Comrecial do Estado de Sao Paulo, informed that the enterprise has another name: XP Coin Intermediacao. At the same time, the news outlet explains that between November 2017 and February 2018, the company received R$ 25 million (7.4 million dollars).
Brazil is one of the most important economies in the world with a GDP over $2 Trillion dollars, meaning that it’s the 8th strongest economy on earth. That opens important possibilities for the brokerage to find important investors in the country.
At the same time, brazil is now offering a Master in Cryptofinance. The University that offers this program is the Fundacao Getulio Vargas (FVG) and the intention is to educate people about a market that is highly misunderstood.
With all these developments, Brazil is becoming a leader in Latin America for Bitcoin investments and related businesses. During March, Argentina hosted a G-20 financial summit in which Bitcoin and crypto regulations were debated.
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