Brazilian brokerage giant XP Corporation has formally launched its crypto buying and selling platform XTAGE in South america, getting a possible 3.six million users towards the crypto markets.
This news was broke inside a Monday publish through the Nasdaq Exchange Twitter account, noting that XP had rung the exchange’s “Opening Bell” to celebrate the launch from the XTAGE digital assets buying and selling platform.
.@xpinvestimentos joins us for that Opening Bell to celebrate the XTAGE digital assets buying and selling platform.
Leveraging @NasdaqExchange’s technology, XTAGE represents a vital milestone in democratizing accessibility digital assets market in South america. pic.twitter.com/DS3RXtWVpb
— Nasdaq Exchange (@NasdaqExchange) August 15, 2022
Initially, XP Inc’s 3.six million clients will get access to Bitcoin (BTC) and Ether (ETH) buying and selling, however the broker told Cointelegraph in May that there have been plans to “support other digital assets and investment products according to crypto assets later on.”
Developed together with major American stock market Nasdaq and crypto child custody firm BitGo, XTAGE is fully built-into the XP ecosystem, allowing users to create crypto trades on its existing application.
However, XP director of monetary products Lucas Rabechini told Reuters inside a This summer interview only clients by having an “adequate investment profile for such operations” is going to be permitted in to the XTAGE platform.
Built on Nasdaq’s buying and selling technology, XTAGE also offers integration with MetaTrade 5, a foreign exchange and stock buying and selling tool.
Crypto child custody firm BitGo is placed to do something as custodian, storing the majority of XTAGE’s assets in cold wallets not attached to the internet.
South america competitors
XP Corporation is only the latest Brazilian fintech player to provide crypto buying and selling services, following within the actions of Nubank and MercadoLibre.
Related: Brazilian payment application PicPay launches crypto exchange with Paxos
Nubank, the biggest digital bank in South america and South America, announced a partnership with Paxos in May of the year.
Following a announcement, customers could purchase, selling and storing cryptocurrencies directly through Nubank.
While MercadoPago, the fintech arm of MercadoLibre, announced their Brazilian customers could buy, sell and hold BTC, ETH and U . s . States dollar-backed stablecoin Pax Dollar (USDP) in December 2021.
