- One of Brazil’s renowned equities brokers has joined the Bitcoin (BTC) revolution.
- XP Inc will soon offer Bitcoin (BTC) and Ethereum (ETH) crypto trading services.
- The offer will be available to clients from mid-August, more assets will join by 2022 end.
Brazil joins the Bitcoin revolution as one of the biggest Brazilian equities brokers — XP Inc, made a huge decision. In detail, XP Inc will soon offer its customers the chance to trade Bitcoin (BTC). To highlight, it will start with 3.6 million customers in August.
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To begin, the Brazilian brokerage will open its digital trading platform by initially offering Bitcoin (BTC) and Ethereum (ETH) to a huge chunk of its clients by the middle of the next month. Furthermore, the entity plans to expand this offering by the end of 2022.
While the offering will be open to its 3.6 million customers, the crypto trading platform states that the crypto trading offer will be complying to strict eligibility rules. For instance, the amount of risk each client is willing to take will be a huge factor.
As for expanding their crypto trading offering. An XP representative says that by the end of December 2022 or by the start of 2023, the platform will add 10 more crypto assets onto the roster to diversify trading options for its clients.
The same representative draws light to the brutal crypto winter that cut down crypto asset values, and how this does not affect XP’s long-term goal. In fact, the representative stresses on how XP will continue to focus on the crypto industry.
You can say ‘the volume has been weak, there will be few orders,’ but we see this market systematically growing over time, and our long-term view is not just focused on price, but also technology
While clients can access the new crypto trading offering in mid-August, it seems XP employees have already begun using the service for testing since early July. All in all, XP is gearing up to bring an exciting new opportunity to its customers.
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