In yet another sign that the major cryptocurrencies are becoming an important asset for institutional investors, Brazilian brokerage XP Inc. has launched a new crypto trading platform.
Branded as ‘XSTAGE’, the new digital assets trading platform was announced on the Nasdaq Exchange Twitter account on 15 August 2022. Initially, XSTAGE will give a potential 3.6 million clients access to Bitcoin (BTC) and Ethereum (ETH) trading – although XP Inc. had previously said it would only be allowing clients that meet certain criteria onto the platform.
XSTAGE is built on Nasdaq’s trading tech, and has forex and stock trading tool MetaTrade 5 integrated. BitGo will be serving as crypto custodian, holding the majority of assets in cold storage.
.@xpinvestimentos joins us for the Opening Bell to celebrate the XTAGE digital assets trading platform.— Nasdaq Exchange (@NasdaqExchange) August 15, 2022
Leveraging @NasdaqExchange’s technology, XTAGE represents a key milestone in democratizing access to the digital assets market in Brazil. pic.twitter.com/DS3RXtWVpb
As the recent ‘Crypto Winter’ starts to thaw, we’re seeing more and more institutional money flow into the major cryptocurrencies – something many observers see as a prerequisite for the long predicted major bull run that could push Bitcoin to unprecedented prices.
Just last week, we reported that BlackRock, the world’s largest asset management firm, had partnered with New York-based crypto exchange Coinbase, to give its institutional clients access to digital assets.
Of course, in the crypto space, there are no guarantees, and macro events can cause the markets to flip rapidly. But, crypto casino players should be paying close attention to these developments with a view to maximising the value of their bankrolls and account balances.