XP recently announced that it will open your trading platform crypto xtage in August for some his clientele. First, only Bitcoin and Ethereal will be available, although a total of ten digital assets will be available in early 2023. As a reminder, XP is the largest brokerage company in Brazil.
Focus on launch xtage
As a reminder, the platform xtage it was first announced in May. According to Reuters, the crypto service will be available for XP customers from August. The company is set up to provide access to a trading platform. cryptowith bitcoin and ether as initially available assets. Other assets must be added by the end of the year. In fact, the platform is currently only available for employees.
Luke rabechinidirector of financial products at XP, said: ” The platform xtage would be available to clients with “sufficient investment profiles for this type of business.”
In addition, he added that the company plansadd ten cryptocurrencies early next year. He is optimistic about the development of cryptocurrencies and the technology itself.
“You can say ‘volumes have been low, orders have been low,’ but we are seeing continued growth in this market over time, and our long-term view is not only based on pricing, but also on the technology.”
Find out: Countless fintech startups are signing up for Fidelity’s Bitcoin 401(k) offering.
The adoption of cryptos in the Latin American area
Cryptocurrencies are popular in Latin America and Brazil is no exception. Brazil is known for its growing interest in cryptocurrencies. In fact, many other countries offer similar services in the country. Nubank is the best known, associated with paxos to allow customers to buy bitcoin and ether.
So, several banks reveal crypto-related efforts. Additionally, the government has also played a role in shaping how cryptocurrencies work in the country. The Brazilian Senate recently passed a bill the introduction of regulation on cryptography.
The bill, which has yet to pass the House of Representatives, would give regulators the ability to monitor crypto service providers. It may be the central bank that regulates the crypto industry.