On Monday (August 15), Brazilian financial services giant XP Inc. (NASDAQ: XP) announced that it had opened its crypto trading platform XTAGE to clients.
According to a press release issued by XP on May 12, XTAGE, which is built on Nasdaq’s trading technology, “represents a key milestone in democratizing access to the digital assets market in Brazil”, and is “uniquely positioned to flexibly scale as it grows and introduces new products and services.” It went on to mention that the platform was “expected to be operational by the end of the second quarter of 2022.”
Roland Chai, Executive Vice President and Head of Market Infrastructure Technology at Nasdaq, had this to say back then:
“We are pleased to partner with XP as they advance on their digital assets strategy. The technology partnership between Nasdaq Market Technology and XP is a foundational pillar in their expansion into digital assets and will open up new opportunities for investors.
“Nasdaq’s robust and flexible infrastructure technology, designed to meet market expectations as well as current and future regulatory frameworks, will enable XP to reliably scale their platform and introduce new asset classes as they grow and evolve. We look forward to continuing our technology partnership with XP as they bolster their offerings and further innovate the digital assets ecosystem and beyond.“
The press release also mentioned that the trading platform would be “fully integrated into XP Inc´s ecosystem, giving customers a frictionless process to invest using existing XP services.”
Lucas Rabechini, Director of Financial Products at XP Inc. told Reuters during an interview that clients with an “adequate investment profile for such operations” would be able to use the XTAGE platform starting in August. Rabechini later added that by the end of the year there would providing support for 10 cryptoassets.
Well, yesterday, three people from XP were at Nasdaq’s opening bell ceremony, and according to a report by Nasdaq, the XTAGE platform “is available to all customers with a digital account on the XP App, for trading two cryptocurrencies (Bitcoin and Ether).”
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