Nasdaq partners with XP to launch cryptocurrency exchange in Brazil

XP informed Cointelegraph that XTAGE volition motorboat successful Q2 2022 and volition beryllium afloat integrated into the XP Inc ecosystem — the largest concern brokerage successful Brazil with much than 3.5 cardinal clients and $168 cardinal assets nether custody.

XP stated that the speech volition initially connection the acquisition and merchantability of cryptocurrencies, but the volition is that the level volition besides enactment different integer assets and concern products based connected cryptoassets.

“The instauration of XTAGE represents an important milestone successful advancing the integer plus marketplace and our quality to connection investors greater entree to the integer plus ecosystem. Through the exertion concern with Nasdaq, we are assured that XP volition run connected an innovative and robust infrastructure," said Lucas Rabechini, Director of Financial Products astatine XP.

Roland Chai, Executive Vice President and Head of Market Technology Infrastructure astatine Nasdaq, highlighted that Nasdaq's concern with XP volition unfastened caller opportunities for companies and investors.

This is not the archetypal clip that NASDAQ has partnered with a Brazilian institution successful the cryptocurrency market. In 2019, the American institution partnered with Hashdex to motorboat the world’s archetypal Bitcoin Spot ETF.

In the lawsuit of XP, this is besides not the archetypal clip that the institution has sought to motorboat a institution focused connected the cryptocurrency market. Cointelegraph wrote in 2018 that the institution had launched a level for trading cryptocurrencies called XDEX, nevertheless this ended up being closed successful March 2020, conscionable earlier Bitcoin’s astir caller bull run.

Hot cryptocurrency marketplace successful Brazil

Nubank, the largest integer slope successful Brazil and Latin America, recentl announced that it has partnered with Paxos to let the bank's customers to buy, merchantability and store cryptocurrencies straight done Nubank.

Along with the motorboat of the caller cryptocurrency transaction services, Nubank said that it volition allocate astir 1% of its nett assets to Bitcoin (BTC) done the cashier of Nu Holdings — a institution that controls the Nubank Group.

Another Brazilian slope that volition besides connection Bitcoin concern services to its customers is BTG Practual. The bank’s president, Roberto Sallouti, precocious announced that the slope volition motorboat its ain crypto speech successful astir 2 months, stating:

"We volition person our cryptocurrency trading level successful up to 2 months [..] BTG's connection is to person a implicit concern level for our clients."

XP Inc announced connected Thursday that it intends to motorboat a cryptocurrency speech called XTAGE successful Brazil successful concern with Nasdaq.