Nasdaq partners with XP to launch cryptocurrency exchange in Brazil

The exchange, called XTAGE, is presently set up to launch in Q2 2022.

Nasdaq partners with XP to launch cryptocurrency exchange in Brazil

XP notified CryptoPumpNews that XTAGE will certainly launch in Q2 2022 and also will certainly be completely incorporated right into the XP Inc environment– the biggest financial investment brokerage firm in Brazil with greater than 3.5 million customers and also $168 billion properties under custodianship.

XP specified that the exchange will at first provide the acquisition and also sale of cryptocurrencies, yet the objective is that the system will certainly additionally sustain various other electronic properties and also financial investment items based upon cryptoassets.

“The development of XTAGE stands for a crucial landmark in progressing the electronic possession market and also our capacity to provide capitalists better accessibility to the electronic possession environment. Through the modern technology collaboration with Nasdaq, we are certain that XP will certainly operate a cutting-edge and also durable framework,” stated Lucas Rabechini, Director of Financial Products at XP.

Roland Chai, Executive Vice President and also Head of Market Technology Infrastructure at Nasdaq, highlighted that Nasdaq’s collaboration with XP will certainly open up brand-new chances for business and also capitalists.

This is not the very first time that NASDAQ has actually partnered with a Brazilian firm in the cryptocurrency market. In 2019, the American firm partnered with Hashdex to launch the globe’s very first Bitcoin Spot ETF.

In the instance of XP, this is additionally not the very first time that the firm has actually looked for to launch a firm concentrated on the cryptocurrency market. Cointelegraph composed in 2018 that the firm had actually introduced a system for trading cryptocurrencies called XDEX, nonetheless this wound up being shut in March 2020, prior to Bitcoin’s newest bull run.

Hot cryptocurrency market in Brazil

Nubank, the biggest electronic financial institution in Brazil and also Latin America, recentl introduced that it has actually partnered with Paxos to enable the financial institution’s consumers to purchase, offer and also keep cryptocurrencies straight via Nubank.

Along with the launch of the brand-new cryptocurrency deal solutions, Nubank stated that it will certainly assign approximately 1% of its internet properties to Bitcoin (BTC) via the cashier of Nu Holdings– a firm that regulates the Nubank Group.

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Another Brazilian financial institution that will certainly additionally provide Bitcoin financial investment solutions to its consumers is BTGPractual The financial institution’s head of state, Roberto Sallouti, lately introduced that the financial institution will certainly launch its very own crypto exchange in approximately 2 months, mentioning:

XP Inc introduced on Thursday that it plans to launch a cryptocurrency exchange called XTAGE in Brazil in collaboration with Nasdaq.

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Alex Sanders/ author of the article

Expert in marketing and investment project management, financial analyst. Cryptocurrency trader, private consultant, as well as the author of a number of analytical articles on effective work in the cryptocurrency market.

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