Brazil’s XP Investimentos signals its willingness to meet customer demand, filing patent on the brand XP Bitcoin. The move could legitimize bitcoin in the eyes of average Brazilian investors, despite the firm’s previous public protestations and warnings, bringing a Latin American powerhouse to the cryptocurrency marketplace.
Brazil is Big, Big, Big
Folha de S.Paulo (Folha), the highest circulating newspaper in Latin America’s largest country by population and territory, profiled bitcoin for its readers.
Folha is owned Groupo Folha which also operates Brazil’s most popular internet portal, Universo Online.
Tucked deep in the story is João Paulo Oliveira, chief analyst of cryptocurrencies at XP Investimentos (XP), Brazil’s biggest brokerage firm.
"It’s no wonder Brazilians are looking for financial alternatives like bitcoin."
He’s quoted as being quite the Cassandra regarding bitcoin, urging regulation and legal oversight.
Even so, his company is said to be “starting to look at this [bitcoin] market,” according to Folha.
Allex Ferreira of Brazil’s Criptomoedas Facil, posted evidence XP has already petitioned to patent a brand, XP Bitcoin, presumably a future brokerage subsidiarity (see inset).
Brazil’s purchasing power parity outstrips all other countries in the region at 3.2 million Geary-Khamis dollars, an international standard. And when Brazil is combined with Mexico and Argentina, the three countries account for a clear super-majority of economic activity in Latin America.
A substantial move into the bitcoin space from Brazil would have far-reaching impacts.
https://news.bitcoin.com/brazils-largest-brokerage-creates-xp-bitcoin/
Topic: [2017-10-06] Brazil’s Largest Brokerage Creates XP Bitcoin (Read 1922 times)
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