The broker has 3.6 million users and its new trading platform developed in partnership with the Nasdaq can scale to support one million users for bitcoin trading.
Xtage, the broker’s new digital asset trading platform developed in partnership with Nasdaq, opened operations today with a year-end goal of 200,000 active users. However, the platform currently holds capacity to support up to 500,000 users, and the company stated it has the potential to scale up to one million users, covering almost one-third of its existing clientele.
“In the medium and long term, the potential is enormous, taking into account that today we have more than 3.6 million customers on the XP platform,” said Lucas Rabechini, director of financial products at XP.
Additionally, Bitgo will serve as XP’s custodian offering cold storage services to clients, though it is unclear whether or not users will be able to transfer their bitcoin off-platform.
