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Tag Archives: brazil

Brazil’s Leading Financial Broker XP to Launch a Crypto Trading Platform

The Brazilian investment management company – XP Inc. – reportedly joined forces with Nasdaq to launch a cryptocurrency trading platform. Called XTAGE, it should go live by the end of June. Initially, it will enable investors to buy and sell bitcoin and ether. XP Thinks About the Next Five, Ten Years The latest organization to open up to the crypto industry is the largest broker in the country – XP Inc. According to reports, the company partnered with Nasdaq to launch a...

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Brazilian Digital Banking Giant Partners With Paxos to Offer Crypto Services

São Paulo-based Nubank, Latin America’s largest digital bank, has signed a partnership deal with blockchain infrastructure platform Paxos to support cryptocurrency trading services within its banking app. Nubank Supports Direct Bitcoin and Ether Trading In a press release on Wednesday (May 11, 2022), Nubank said its customers will be able to buy, sell, and hold bitcoin and ether directly via the banking app, with crypto purchases starting from $0.20. (1 BRL). According to the...

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Coinbase Won’t Acquire Brazilian Crypto Giant 2TM

2TM Group, the holding company of Brazil’s first crypto brokerage Mercado Bitcoin, has ended its merger and acquisition talks with the leading US-based cryptocurrency exchange Coinbase, Bloomberg reported Wednesday, citing people familiar with the matter. Coinbase and 2TM End Buyout Talks According to the report, Coinbase intended to acquire a controlling interest or a minority share in 2TM. CryptoPotato reported in March that the buyout talks first started late last year and...

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Brazil’s Senate Greenlights the Country’s Crypto Regulatory Bill (Report)

The upper house of the National Congress of Brazil – the Federal Senate – reportedly approved the bill that could serve as a regulatory framework for the local cryptocurrency industry. The legislation needs to receive a green light from the Chamber of Deputies before becoming live. Senate Said ‘Yes’ The largest nation in South America is gradually moving towards establishing rules on its digital asset ecosystem. A local report reads that the Senate passed a bill to set up a...

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Brazil’s Push to Crypto Adoption and What Does it Mean (Op-Ed)

This week lawmakers in Brazil pushed to advance a bill that would legalize and regulate cryptocurrency— the National Congress of Brazil’s House bill 4401/21. Senator Iraja Abreu, who sponsored a Senate version of the bill (Senate bill 3825/19), dropped his version in favor of the House bill, carrying some provisions over to 4401-21. Bom Trabalho! (That’s Portuguese for “Good work!”) Employing some deft parliamentary maneuvering, Abreu advanced the bill through Brazil’s...

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Brazil and Indonesia Global Leaders in Crypto Adoption: Gemini Survey

A study conducted by the cryptocurrency exchange Gemini determined that approximately 41% of the surveyed individuals from Brazil and Indonesia own digital assets. The United States and the United Kingdom are far behind with respectively 20% and 18%. Brazil and Indonesia: the Global Leaders The US-based crypto platform Gemini questioned nearly 30,000 people across 20 countries to find out what chunk of the population has jumped into the digital asset universe. Per the...

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Rio de Janeiro to Accept Cryptocurrency Payments for Taxes (Report)

Cryptocurrency adoption comes in different forms these days, but it seems that countries and cities are becoming more open to the idea of allowing certain payments to be made using such assets. Brazil’s second-largest city said it wants to become the first within the nation’s borders to accept BTC payments for taxes. The report from Bloomberg Linea outlined the announcement from the city of Rio De Janeiro indicating that residents will be able to pay IPTU (Imposto Sobre a...

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Aave to Move Forward in Brazil’s Central Bank Innovation Challenge

The central bank of Brazil revealed on March 3rd that it has picked a total of nine projects to advance in its challenge to develop a central bank digital currency (CBDC). One of the projects is Aave. The LIFT Challenge The central bank of Brazil revealed the so-called LIFT Challenge where the current theme is “Real Digital.” The main objective of this challenge is to evaluate use cases of digital currencies issued by the central bank as well as how technologically feasible...

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Avenue Securities to Offer Crypto Services Starting Next Month

Avenue Securities – a brokerage in Miami, Florida that allows native Brazilians to invest in the United States – is opening its doors to cryptocurrency. The company announced that it has plans to begin trading digital assets like BTC beginning next month. Avenue Securities Turns Towards Crypto Roberto Lee – the chief executive officer and founder – explained in a statement that his firm has seen a lot more demand for crypto-related services from customers, and thus he...

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Mercado Libre Made a Strategic Investment in Paxos and Mercado Bitcoin

The largest e-commerce firm in Latin America – Mercado Libre – acquired shares in the 2TM Group (a parent company of the cryptocurrency platform Mercado Bitcoin). Separately, it made a “strategic investment” in another digital asset-oriented organization Paxos. Jumping into Crypto Once Again The leading Argentinean e-commerce platform Mercado Libre, which has displayed a pro-crypto stance during the last several months, continues to support the industry. The company recently...

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