On Thursday, XP Inc., Brazil’s largest brokerage and trading platform, announced the official creation of XTAGE, a new cryptocurrency trading platform in collaboration with Nasdaq.
According to the press release, the platform is expected to be operational by the end of the second quarter of 2022. Customers will be able to invest using existing XP services with the trading platform fully integrated into XP Inc’s ecosystem. Cryptocurrency trading will be offered at the launch of the platform. As market trends and investor appetite continue to evolve, XP plans to expand its offering to include additional types of assets over the medium term.
“At XP, we are driven by our mission to democratize access to investments, providing investors with an expanded and diversified portfolio of financial products that are at the forefront of global innovation. The creation of XTAGE represents a major milestone in advancing on the digital assets market and in our ability to offer investors increased access to the emerging ecosystem. Through the technology partnership with Nasdaq, we are confident that XP will operate on an innovative and robust capital market infrastructure,” Lucas Rabechini, the Director of Financial Products at XP Inc., commented.
Collaboration with Nasdaq
Moreover, Roland Chai, the Executive Vice President and Head of Market Infrastructure Technology at Nasdaq, pointed out: “We are pleased to partner with XP as they advance on their digital assets strategy. The technology partnership between Nasdaq Market Technology and XP is a foundational pillar in their expansion into digital assets and will open up new opportunities for investors. Nasdaq’s robust and flexible infrastructure technology, designed to meet market expectations as well as current and future regulatory frameworks, will enable XP to reliably scale their platform and introduce new asset classes as they grow and evolve. We look forward to continuing our technology partnership with XP as they bolster their offerings and further innovate the digital assets ecosystem and beyond.”
Recently, Nasdaq, Inc. announced that it had appointed three executives to the Board of Directors of the Nasdaq Stock Market LLC, Nasdaq PHLX LLC, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq MRX, LLC and Nasdaq GEMX, LLC.
