The Brazilian brokerage firm XP has launched its crypto trading platform ‘XTAGE’ in Brazil to offer Bitcoin and Ether trading.
On August 15, the Nasdaq Exchange Twitter account posted that XP had rung the exchange’s “Opening Bell” to commemorate the launch of the XTAGE digital assets trading platform. With the launch, the firm plans to host 3.6 million users to the crypto markets.
Initially, XP users will have access to Bitcoin and Ether trading. However, the broker has previously revealed plans to back other digital assets and investment products based on crypto assets later on.
The platform has been developed in partnership with the American stock exchange Nasdaq and crypto custody firm BitGo. The platform, XTAGE, is fully integrated into the XP ecosystem and lets users participate in crypto trading on its current app.
Lucas Rabechini, XP director of financial products, had revealed in July that only clients with an “adequate investment profile for such operations” will be allowed into the trading platform, when the news about the launch first came out.
XTAGE also has integration with MetaTrade 5 which is a forex and stock trading tool. Crypto custody firm BitGo will act as custodian and store most of XTAGE’s assets in cold wallets which are not linked to the internet.
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