XP Inc will enable its customers to trade cryptocurrencies with its crypto trading platform Xtage.
The crypto money platform Xtage, which was announced for the first time in May, was officially launched today. Xtage is now available to all customers with a digital account of XP, the largest brokerage firm in Brazil. Now, traders will be able to quickly buy and sell their assets and do so from a dedicated crypto tab.
XP Customers Can Trade Cryptocurrency With Xtage
Opening the cryptocurrency trading platform Xtage today, all customers with a digital account of XP will be able to trade Bitcoin (BTC) and Ethereum (ETH). Announced in May, the platform has partnered with Nasdaq for its technology base and is designed to be fully integrated into the XP application.
As of today, 500,000 customers will be able to trade cryptocurrencies on the platform, and this number is expected to reach 1 million by the end of the year. Currently, XP has more than 3.6 million customers.
Saying that they plan to add about 10 different cryptocurrencies to their systems by December, XP Inc. Lucas Rabechini, Director of Financial Products, said:
“We will be adding even more functionality to the platform over the next few months. Our expectation is to have more than 200,000 active customers by the end of 2022. But the potential is huge in the medium and long term.”
The system will operate 24 hours a day and in the near future will have integration with MetaTrader 5, one of the largest trading platforms in the world. The company, which plans to partner with Nelogica to use the Profit system, will also allow customers to use proprietary algorithms and robots to buy and sell Bitcoin and Ethereum through Xtage.
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