XP opens pre-registration for Bitcoin and Ethereum trading

Charlie Taylor


XP Investimentos opened on Tuesday (19) registration for the Xtage waiting list, the cryptocurrency buying and selling service that it will provide to its customers. The company sent an email to its user base giving details of the negotiation process. Bitcoin (BTC) and Ethereum (ETH) will be available at first, XP reports. In addition, the company stressed that the transactions will be carried out on the company’s application, which users already use to make investments in the stock exchange, fixed income and other products. In May, the company announced that the Xtage platform was built based on the trading technology of Nasdaq, which is the stock exchange where most shares of technology companies are traded. Bruno Constantino, CFO of XP, says that the partnership with Nasdaq enabled rapid development of the tool. “At the time of launch, our 3.5 million customers will have access to the trading platform directly from the app they are already familiar with,” it said in the statement. As the company said in the statement, in the medium term, it plans to “expand its offering to include various types of digital assets as market trends and investor appetite evolve.”

second attempt

This is XP’s second attempt to enter the cryptocurrency market. The first was in 2018, when he created the Xdex broker. The venture closed its doors 17 months after starting operations. Although Xdex was launched in October 2018, planning for the launch had already started in April of that year. According to data from the Federal Revenue, XP Investimentos registered XDEX INTERMEDIACAO LTDA, whose share capital was R$ 25 million. However, the project was only formally launched in September 2018 by CEO Guilherme Benchimol, during an XP conference. The company was already born with a strong name: Fernando Ulrich, then one of the main names in the Brazilian cryptocurrency market and an analyst in the segment at XP itself. However, he left the company in October last year. The plans at the time were ambitious: in an interview with the Bitcoin Portalthe company’s CEO at the time, Celina Ma, said the plan was to reach 1 million customers.\r\n window.uolads.push({id: \”banner-970×250-area-1\” });\ r\n\r\n

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