announced XDEX is closing its doors XDEX is a Brazil-based cryptocurrency exchange owned by XP Investimentos, one of the largest stock and brokerage firms in Latin America.

According to the official announcement:

Today, we announce that XDEX is beginning the process of closing its activities.

The closing of the platform due to low market and competition and lack of regulatory progress reduced the opportunities available at the beginning of the project and was the basis for this difficult decision.

The platform gave its client audience 30 days to close all their positions and withdraw their funds from the platform.

According to the platform, the funds will be received directly into the bank accounts registered on the platform within one working day.

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In addition, if a user does not follow this recommendation and does not close his orders after the 30 day period, and the client does not sell the assets, the platform will do so on his behalf and the amount obtained from the sale will be deposited in the bank account registered with XDEX within 3 work days.

The XDEX platform was launched in 2018 with the aim of benefiting from the entry of institutional investors into the crypto sector, and it is the fourth trading platform to be closed in the country after OmniTrade, Latoex and Acesso Bitcoin.

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