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Sep 26, 2022 15:24
XP Inc. launches new crypto platform XTAGE in Brazil
Brazil's largest broker-dealer company XP Inc has launched a new cryptocurrency platform, XTAGE, for its Brazilian clients. It is predicted that the cryptosphere could add more than 3.5 million investors.
In the first phase, BTC and ETH transactions will be available to platform users in addition to currency pairs and equities. But the company plans to expand the list of available digital currencies.
The XTAGE platform was developed in conjunction with the Nasdaq Stock Exchange and the BitCo team. The service is fully integrated into XP Inc. Their customers will now be able to buy and sell cryptocurrencies through the company's mobile app.
Several cryptocurrency platforms have previously been launched in Brazil. The most popular ones are Nubank and MercadoLibre. By launching XTAGE, there will be more competition and more investors in the domestic crypto market.
The Henbbo fund regularly sees strong momentum in Latin America's crypto markets and by the end of this year will increase its investment in a number of sectors in the region by a total of $6.4m.
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