Cybercurrencies are here to stay, and something new has recently been announced: it will be possible to cryptocurrency trading by XP. By the end of June this year, the XTAGE platform will be launched, which is the result of a partnership between XP in collaboration with Nasdaq, a giant of the North American stock market.
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The collaboration between XP and Nasdaq was aimed at creating a specific platform for trading cryptocurrencies integrated into the XP application. In this sense, initially XTAGE will work only for trading Bitcoins and Ethereum, but it may add other assets in the future.
Recently, XP carried out an internal survey and found that more than 60% of its customers are interested in buying Bitcoin and/or other cybercurrencies. Furthermore, the survey indicated that 80% of clients who invest in these assets outside of XP would like to be able to do so on a trading platform designed by the company.
XP's director of financial products, Lucas Rabechini, informed that the fees related to the use of the new platform will be competitive with the current market. According to the director, customers who opt for XTAGE will have a wallet capable of storing their cryptocurrencies, however, the functionality of transferring funds to a different wallet will only be launched posteriorly.
Through a digital wallet it is possible to carry out various transactions with cryptocurrencies, such as, for example, paying and making purchases. In Brazil, construction company Tecnisa currently receives payment for its properties through Bitcoins.
Tesla CEO Elon Musk claimed in 2021 that company customers could pay for electric cars through cryptocurrencies. However, the company reversed its decision due to the environmental damage resulting from the mining process. Other giant companies in the payment method niche, such as PayPal, Mastercard and Visa, already accept payments with cryptoassets. Thus, it is an alternative that seems to have arrived to stay.
