XP Inc. announced this Thursday (12) the launch of XTAGE, its proprietary platform for trading cryptocurrencies, in partnership with Nasdaq.
In a statement, the company explained that the trading platform will be fully integrated into the XP Inc. ecosystem, allowing customers to invest in digital assets without friction with the services they are already used to.
XP also says that initially, the platform will offer cryptocurrency trading, and in the medium term it plans to “expand its offering to include various types of digital assets as market trends and investor appetite evolve”.
XTAGE is expected to be 100% operational by the end of June, according to the note. It was unclear which cryptocurrencies will be available at this early stage, whether it will be a launch limited to larger assets like Bitcoin (BTC) and Ethereum (ETH) or a larger supply.
XP will hold a press conference at 9am this Thursday to give more details about the launch.
“At XP, we have the great mission of democratizing access to digital assets, providing investors with a broad and diversified portfolio of financial products that are at the forefront of global innovation”, says Lucas Rabechini, director of financial products at XP Inc.
“The creation of XTAGE represents an important milestone in advancing the digital asset market and our ability to offer investors greater access to the digital asset ecosystem. Through the technology partnership with Nasdaq, we are confident that XP will operate on an innovative and robust infrastructure,” he says.
Bruno Constantino, CFO of XP Inc., further explains that “at launch, our 3.5 million customers will have access to the trading platform directly from the app they are already familiar with. Access to trading will later be extended to new investors as the platform grows.”
Roland Chai, executive vice president and head of market technology infrastructure at Nasdaq, says the partnership will be important to expand access and open up new opportunities for investors.
“Nasdaq’s robust and flexible infrastructure technology, designed to meet market demands as well as current and future regulatory frameworks, will allow XP to reliably scale its platform and introduce new asset classes as it grows and evolves. We look forward to continuing our technology partnership with XP as they strengthen their offerings and further innovate the digital asset ecosystem.”
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