Brazilian brokerage big XP Inc has formally launched its crypto buying and selling platform ‘XTAGE’ in Brazil, bringing a possible 3.6 million customers to the crypto markets.
The information was broke in an Aug. 15 submit by the Nasdaq Trade Twitter account, noting that XP had rung the change’s “Opening Bell” to rejoice the launch of the XTAGE digital belongings buying and selling platform.
.@xpinvestimentos joins us for the Opening Bell to rejoice the XTAGE digital belongings buying and selling platform.
— Nasdaq Trade (@NasdaqExchange) August 15, 2022
Initially, XP Inc’s 3.6 million purchasers may have entry to Bitcoin (BTC) and Ethereum (ETH) buying and selling, however the dealer instructed Cointelegraph again in Could there were plans to “assist different digital belongings and funding merchandise primarily based on crypto belongings sooner or later.”
Developed in partnership with main American inventory change Nasdaq and crypto custody agency BitGo, XTAGE is absolutely built-in into the XP ecosystem, permitting customers to make crypto trades on its current app.
Nevertheless, XP Director of Monetary Merchandise, Lucas Rabechini instructed Reuters in a July interview solely purchasers with an “ample funding profile for such operations” can be allowed into the XTAGE platform.
Constructed on Nasdaq’s buying and selling expertise, XTAGE additionally has integration with MetaTrade 5, a foreign exchange and inventory buying and selling device.
Crypto custody agency BitGo is ready to behave as custodian, storing most of XTAGE’s belongings in chilly wallets not linked to the web.
XP Inc is simply the newest Brazilian fintech participant to supply crypto buying and selling providers, following within the footsteps of Nubank and MercadoLibre.
Nubank, the most important digital financial institution in Brazil and Latin America, announced a partnership with Paxos in Could of this 12 months.
Following the announcement, clients have been in a position to begin shopping for, promoting, and storing cryptocurrencies immediately by Nubank.
Whereas MercadoPago, the fintech arm of MercadoLibre, introduced their Brazilian customers could buy, promote and maintain BTC, ETH, and U.S. dollar-backed stablecoin Pax Greenback (USDP) in December of 2021.