Brazil's Largest Brokerage XP Unveils the Launch Date of Its Crypto Exchange

XTAGE, Brazilian-based investment management firm XP’s crypto exchange, has been finally given a final release date and is anticipated to roll out by the middle of August 2022.

According to the official announcement, the platform, which was initially supposed to be released by the end of June, will be offering trading in Bitcoin (BTC) and Ethereum (ETH), with 10 additional digital assets coming by the end of December and the beginning of 2023.

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As previously reported by Reuters, XTAGE will pave the way for investors to access the digital assets market with more ease.

The news arrives a few months after XP joined forces with financial services organization Nasdaq and digital asset custody firm Bitgo to build a safe, compliant, and fully integrated crypto exchange running on "super competitive fees."

Lucas Rabechini, director of financial products at XP, recently shed some light on how the current crypto bear market has affected the company’s plans, stating that its “long-term view is not just focused on price, but also technology.”

On top of that, he believes that the crypto market is still in its early stages and will grow significantly in several years.

Moreover, Rabechini also gave some comments on the partnership with Nasdaq, noting that it will assist the firm's crypto exchange in operating in an "innovative and robust capital market infrastructure."

Nonetheless, XP isn’t the only crypto-driven company with such ambitious plans. Earlier in July, PicPay, a digital wallet app, announced that it would be rolling out its own crypto exchange, initially supporting Bitcoin (BTC), Ethereum (ETH), and Paxos USDP stablecoin, next August.

Likewise, earlier in May, Brazil’s biggest bank Nubank introduced to its 50 million customers the possibility of buying and selling a number of digital assets.

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