Brazil’s Largest Broker XP To Launch Bitcoin Trading

• XP, Brazil’s largest broker, plans to let bitcoin and different cryptocurrency trading to its 3.5 cardinal customers.
• Nasdaq partnered with XP to make the XTAGE trading platform, which is expected to merchandise this June.
• BitGo volition beryllium XP’s custodial partner, keeping astir of the bitcoin and different assets successful acold retention for security.

XP, Brazil’s largest broker according to marketplace value, is readying to motorboat a cryptocurrency trading level that volition let its customers to buy, merchantability and clasp bitcoin and different cryptocurrencies, according to a translated study from Info Money.

The level volition spell by the sanction XTAGE and was developed successful concern with Nasdaq to beryllium integrated into the XP app with expected an operability timeframe adjacent the extremity of June. XTAGE volition initially lone motorboat for bitcoin and 1 different cryptocurrency.

"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," said Roland Chai, enforcement vice president and caput of marketplace exertion infrastructure astatine Nasdaq.

Cryptocurrency portfolios volition beryllium integrated with different investments successful the app allowing customers to frictionlessly interact with the interface they are already accustomed to. This functionality volition bring bitcoin to XP’s 3.5 cardinal customers.

An interior survey conducted by XP shows implicit 60% of its customers are funny successful buying bitcoin and different cryptocurrencies and of the customers presently investing successful these assets extracurricular of XP, 80% of those customers would similar to usage a trading level designed by XP.

Director of fiscal products astatine XP, Lucas Rabechini was reportedly asked astir fees associated with utilizing the level and said helium tin guarantee his users that they volition "have ace competitory rates."

Customers looking to usage XTAGE volition person a wallet that is susceptible of holding their bitcoin, nevertheless the quality to transportation funds to a antithetic wallet volition not beryllium included astatine launch. XP volition reportedly connection the transportation functionality astatine a aboriginal date.

BitGo volition beryllium XP’s custodial spouse and astir of the assets volition beryllium held successful acold wallets, which Rabechini explained volition summation the information of the platform.