Representatives of the Brazilian brokerage company XP Inc announced plans to expand the range of their services. According to Reuters, the firm is set to launch its crypto platform by mid-August 2022. Initially, customers will only be able to access Bitcoin (BTC) and Ethereum (ETH). However, the digital currencies list will increase by the end of this year. The head assured: that by the beginning of 2023, at least 10 more digital assets will be available on the site.
XP Director of Financial Products Lucas Rabechini said that clients with an accredited investment profile would be allowed to trade on the Xtage platform. At the same time, the service will initially be open to a limited number of institutions.
According to a representative of the organization, this decision was made due to the increased interest of investors in trading cryptocurrency assets. The company noted that in the second quarter of the current amount of assets under management increased by 4% year on year, reaching $ 153 billion. Currently, the organization’s clients are 3.6 million people.
According to the company’s press service, the fund’s team has been studying the cryptocurrency market for a long time, but only now a final decision has been made to launch its own platform. In the future, experts will continue to research this industry in order to offer their customers the best products and services that meet their interests.