Brazil’s Leading Financial Broker XP to Launch a Crypto Trading Platform

XP Inc., a Brazilian investment management company, reportedly joined hands with Nasdaq in order to launch a cryptocurrency trading platform. It is called XTAGE and should be live by June end. It will allow investors to purchase and sell bitcoin and other cryptocurrencies.

XP thinks about the next five, ten years

XP Inc. is the latest company to open its doors to the crypto market. According to reports, the company partnered up with Nasdaq in order to launch a digital asset-trading platform called XTAGE. It will be integrated into XP’s ecosystem, and should be operational by next month.

The platform will initially allow users to trade bitcoin and ether, which are the most popular cryptocurrencies according to market capitalization. Bruno Constantino, CFO, clarified that XP customers can access the platform directly through the firm’s app. It will later be available to external investors.

The executive spoke out about recent price declines and said that it was irrelevant where the market is in terms of pricing to launch the exchange.

“The launch date is dependent on the development of a platform that offers security, scalability and speed to the client.”

Lucas Rabechini, Director of Financial Products, commented on the partnership. He stated that XP doesn’t care about the current cryptocurrency market. He believes the niche is growing and that XP is focused only on the next five to ten years.

Roland Chai, Executive Vice President at Nasdaq, stated that collaboration with XP could provide additional access to crypto services as well as new opportunities for Brazilian investors.

“Nasdaq has a robust and flexible infrastructure technology that will meet the market’s demands and current and future regulatory frameworks. This will enable XP to scale its platform reliably and add new asset classes as it grows.

Nubank Says ‘Yes’ To Crypto, Too

This week, Nubank, Brazil’s biggest digital bank, teamed up with Paxos Trust in order to launch crypto services. David Velez, CEO of Nubank, described the industry as “growing trend” in Latin America and believes it will have “transformational effect on the region.”

It is based in Sao Paulo and is one of the most prominent fintech institutions in South America. It also has engineering offices in Buenos Aires and Mexico City. Nubank has more than 50 million customers and is valued at $55 billion.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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