XP Inc. to Create XTAGE, Its Digital Assets Trading Platform
May 12 2022 - 6:30AM
Business Wire
XP Inc. (Nasdaq: XP), a leading, technology-driven platform and
a trusted provider of low-fee financial products and services in
Brazil, announced today the creation of XTAGE - a new trading
platform for digital assets in collaboration with Nasdaq, a global
leading technology company serving the capital markets and other
industries.
XTAGE represents a key milestone in democratizing access to the
digital assets market in Brazil. Built on Nasdaq’s leading trading
technology, XP’s platform is uniquely positioned to flexibly scale
as it grows and introduces new products and services. The platform
is expected to be operational by the end of the second quarter of
2022.
“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,” says Lucas Rabechini, Director of Financial Products
at XP Inc. “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,”
he adds.
“We enter this market with a strong team of diverse talent,
skill-sets and experiences, which further enables us to efficiently
collaborate with industry leading partners and develop this
platform in record time,” said Bruno Constantino, Chief Financial
Officer at XP Inc. “At the time of launch, our 3.5 million current
customers will have access to the trading platform directly in the
existing app that they already use.”
“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,” 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 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.”
The trading platform will be fully integrated into XP Inc´s
ecosystem, giving customers a frictionless process to invest using
existing XP services. The new platform will at the time of the
launch offer trading in crypto currencies. In the medium term, XP
plans to expand its offering to include additional types of assets,
as market trends and investor appetite continue to evolve.
About XP
XP is a leading, technology-driven platform and a trusted
provider of low-fee financial products and services in Brazil. XP’s
mission is to disintermediate the legacy models of traditional
financial institutions by:
- Educating new classes of investors;
- Democratizing access to a wider range of financial
services;
- Developing new financial products and technology applications
to empower clients; and
- Providing high-quality customer service and client experience
in the industry in Brazil.
XP provides customers with two principal 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) an open financial product platform
providing access to over 800 investment products including equity
and fixed income securities, mutual and hedge funds, structured
products, life insurance, pension plans, real-estate investment
funds (REITs) and others from XP, its partners and competitors.
Forward Looking Statements
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 they were first issued and were
based on current expectations, estimates, forecasts and projections
as well as the beliefs and assumptions of management. Words such as
"expect," "anticipate," "should," "believe," "hope," "aim,"
"target," "project," "goals," "estimate," "potential," "predict,"
"may," "will," "might," "could," "intend," variations of these
terms or the negative of these terms and similar expressions are
intended to identify these statements. Forward-looking statements
are subject to a number of risks and uncertainties, many of which
involve factors or circumstances that are beyond XP Inc’s control.
XP, Inc’s actual results could differ materially from those stated
or implied in forward-looking statements due to several factors,
including but not limited to: competition, change in clients,
regulatory measures, a change the external forces among other
factors.
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version on businesswire.com: https://www.businesswire.com/news/home/20220512005324/en/
André Martins Antonio Guimarães Marina Montemor
Investor Contact: ir@xpi.com.br IR Website:
investors.xpinc.com
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