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SÃO PAULO–(BUSINESS WIRE)– XP Inc. (Nasdaq: XP), a leading technology platform and trusted provider of low-cost financial products and services in Brazil, today announced the creation of XTAGE – a new trading platform for digital assets in collaboration with Nasdaq, a world-leading technology company serving capital markets and other industries.
XTAGE represents a key step in the democratization of access to the digital asset market in Brazil. Built on Nasdaq’s leading trading technology, XP’s platform is uniquely positioned to scale flexibly as it develops and introduces new products and services. The platform should be operational by the end of the second quarter of 2022.
“At XP, we are driven by our mission to democratize access to investment, providing investors with a broad and diverse portfolio of financial products that are at the forefront of global innovation,” said Lucas Rabechini, Chief Financial Products Officer at XP Inc. “The creation of XTAGE represents a major step in our advancement in the digital asset market and in our ability to provide investors with 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,” he adds.
“We are entering this market with a strong team of diverse talents, skills and experiences, which further allows us to collaborate effectively with industry-leading partners and develop this platform in record time,” said said Bruno Constantino, CFO of XP Inc. “At launch, our current 3.5 million clients will have access to the trading platform directly within the existing application they are already using.”
“We are excited to partner with XP as they move forward with their digital asset strategy. The technology partnership between Nasdaq Market Technology and XP is a fundamental pillar of their expansion into digital assets and will open up new opportunities for investors” , said Roland Chai, Executive Vice President and Head of Market Infrastructure Technology, Nasdaq, “Nasdaq’s robust and flexible infrastructure technology, designed to meet market expectations as well as current and future regulatory frameworks , will allow XP to reliably scale its platform and introduce new asset classes as they grow and evolve.We look forward to continuing our technology partnership with XP as they strengthen their offerings and further innovate in the digital asset ecosystem and beyond.
The trading platform will be fully integrated into the XP Inc ecosystem, providing clients with a frictionless process to invest using existing XP services. The new platform will offer cryptocurrency trading at launch. In the medium term, XP plans to expand its offering to include other types of assets as market trends and investor appetite continue to evolve.
XP is a leading technology platform and a trusted provider of low-cost financial products and services in Brazil. XP’s mission is to disintermediate the legacy models of traditional financial institutions by:
- Educate new classes of investors;
- Democratize access to a wider range of financial services;
- Develop new financial products and technology applications to empower clients; and
- To provide industry-leading customer service and customer experience in Brazil.
XP offers its clients two main types of offerings, (i) financial advisory services for retail clients in Brazil, high net worth clients, international clients and corporate and institutional clients, and (ii) a open form of financial products giving access to more than 800 investment products, including equities and fixed income, mutual funds and hedge funds, structured products, life insurance, pension plans , real estate investment trusts (REITs) and others of XP, its partners and competitors.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date first issued and are based on expectations, estimates, forecasts and projections as well as management’s beliefs and assumptions. Words such as “expect”, “anticipate”, “should”, “believe”, “hope”, “aim”, “target”, “project”, “goals”, “estimate”, “potential” , “predict”, “may”, “will”, “could”, “could”, “intend”, variations of these terms or the negative form of these terms and similar expressions are intended to identify these forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances beyond XP Inc’s control. implied in forward-looking statements due to many factors, including, but not limited to: competition, changing customers, regulatory actions, changing external forces, among other factors.
André Martins Antonio Guimaraes Marina Montemor
Investor contacts: [email protected] IR website: investors.xpinc.com
Source: XP Inc.