Brazilian Investment Management Company – XP Inc. has partnered with Nasdak to launch a crypto business platform. The so-called XTAGE should go live by the end of June. Initially, it allows investors to buy and sell bitcoin and ether.
XP is thinking about the next five, ten years
XTAGE, a digital asset trading platform, has partnered with Nasdak, according to reports. It will be fully integrated into XP’s ecosystem and should be operational by the end of next month.
Initially, the platform allows users to trade the two major cryptocurrencies with market capitalization – bitcoin and ether. CFO Bruno Constantino explains that XP customers can access it directly from the company’s application. It will later be extended to foreign investors.
Speaking about the recent downturn, the executive said, “Where the market is [in terms of pricing] “It has nothing to do with the start of the exchange.”
“Launch time is related to security, measurement and platform development for the client.”
Commenting on the partnership, Lucas Rabicini – Director of Financial Products. XP asserts that it does not care about the current state of the cryptocurrency market. In his view, the nest has the potential to grow, and the broker will focus on the next five decades.
Roland Chai – Vice President of Nasdaq – said the partnership with XP could make more crypto services more accessible and create new opportunities for Brazilian investors.
“Nasdaq’s robust and flexible infrastructure technology, designed to meet market needs and current and future control frameworks, allows XP to reliably grow and introduce new asset components as it grows and improves.
Nubank said ‘yes’ to Crypto.
Earlier this week, Brazil’s largest digital bank, Nubank, partnered with Paxos Trust to launch crypto services. CEO David Velez described the industry as a “growing trend in Latin America,” believing that it “will have an impact on the environment.”
Headquartered in São Paulo, the bank is one of the leading Fintech companies in South America. It has engineering offices in Buenos Aires, Mexico City, and even the German capital, Berlin. Nubank serves more than 50 million customers and is valued at over $ 55 billion.
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