XP announced this Thursday (12) the launch of XTAGE, a new platform for trading digital assets, in partnership with the American stock exchange Nasdaq.
According to a press release from XP, the “trading platform will be fully integrated into the XP Inc. ecosystem, allowing clients to invest without friction with the services they are already accustomed to.”
The new platform now offers, at first, only cryptocurrency trading. The service will be available to XP’s 3.5 million customers through the company’s app.
In the medium term, XP plans to expand its offering to include multiple types of digital assets as market trends and investor appetite evolve. XP’s forecast is that the new platform will be 100% operational by the end of 2022.
“The creation of XTAGE represents an important milestone in the advancement of the digital asset market and our ability to offer investors greater access to the ecosystem of these assets,” said Lucas Rabechini, director of financial products at XP Inc., in a note.
Nubank also started offering cryptocurrency trading
This Wednesday (11), Nubank had also announced the start of the Bitcoin and Ethereum cryptocurrency trading offer to fintech customers.
The company also announced a contribution of 1% of the cash of the parent company Nu Holdings in Bitcoins.
“There is no doubt that cryptocurrencies are a growing trend in Latin America. We have been following the market closely and we believe that there is a transformational potential in the region”, said David Velez, CEO and founder of Nubank, in a note.
Despite recent releases, cryptocurrencies have been experiencing a sharp devaluation in recent weeks.
In a global macroeconomic environment of inflationary pressure and high interest rates in developed markets, Bitcoin has accumulated a decline of about 40% in the year.
This Thursday, Bitcoin is back in the negative field for the eighth consecutive session, down 3.7%, trading at $29,000, according to Bloomberg data.
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