Brazil’s Largest Broker XP Just Launched Bitcoin Trading Services

The broker has 3.6 cardinal users and its caller trading level developed successful concern with the Nasdaq tin standard to enactment 1 cardinal users for bitcoin trading.

• The largest broker successful Brazil has launched bitcoin trading services for its clients.
• XP has implicit 3.6 cardinal users.
• The institution has a extremity of 200,00 users by twelvemonth extremity with a scalable capableness of 1 cardinal users.

XP Inc., Brazil’s largest broker erstwhile measured by marketplace value, has officially launched bitcoin trading services enabling its 3.6 cardinal users to buy, merchantability and clasp bitcoin, per a study from Brazilian work ISTOE.

Xtage, the broker’s caller integer plus trading level developed successful concern with Nasdaq, opened operations contiguous with a year-end extremity of 200,000 progressive users. However, the level presently holds capableness to enactment up to 500,000 users, and the institution stated it has the imaginable to standard up to 1 cardinal users, covering astir one-third of its existing clientele.

"Nasdaq's robust and flexible infrastructure technology, designed to conscionable marketplace demands, arsenic good arsenic existent and aboriginal regulatory structures, volition let XP to standard its level reliably and present caller plus classes arsenic they turn and evolve," Roland Chai enforcement vice president for Nasdaq antecedently said.

The Xtage level was initially launched this past May but was disposable arsenic a aviator strictly for employees who tested the level for implicit a month. Xtage volition integrate with XP’s already existing infrastructure and volition lone enactment 2 integer assets, 1 of which is bitcoin.

"In the mean and agelong term, the imaginable is enormous, taking into relationship that contiguous we person much than 3.6 cardinal customers connected the XP platform," said Lucas Rabechini, manager of fiscal products astatine XP.

Additionally, Bitgo volition service arsenic XP’s custodian offering acold retention services to clients, though it is unclear whether oregon not users volition beryllium capable to transportation their bitcoin off-platform.