Rico, a brand of the XP Inc. group, announced another novelty to meet the interests of its customers. As of Monday (29), Rico will be offering Bitcoin, Ethereum, Chainlink, Polygon, Solana, Cardano and Litecoin.
According to a survey conducted among an internal base of platform users, conducted in April 2023, at least 56% are very interested in the brand’s proposal for digital assets.
It is worth remembering that XP already has the XTAGE platform for investors to trade bitcoin. And direct access to Rico’s application will be via XTAGE, integrating the two platforms belonging to the XP Group.
Rico Releases Bitcoin and Cryptocurrency Trading
Customers can now get started directly in the platform application at any time of the day, starting at R$60, as the service operates 24 hours a day, seven days a week.
The functionality will be released starting next Monday and will be available to all customers in the coming days.
It will be available directly in the Rico app, through XTAGE, a digital asset trading platform owned by XP Inc. which uses top-level technologies and protocols to ensure maximum security in the custody of cryptocurrencies.
To trade, the customer simply goes to the “Crypto” tab in the application itself and starts buying and selling bitcoin and other currencies.
For Pedro Canellas, Head of Rico, offering digital assets is yet another way to leverage the platform with products and services across the customer’s financial journey.
“By offering crypto, we are expanding access to this type of asset and strengthening our relationship with users. Our audience consists of people who want to solve everything in one place, who are up to date and want to understand more and more about the innovations in the market.”
Rico wants to attract customers who are already investing in the market
Rico’s expectation is to attract clients who already have digital assets in their portfolios and are interested in meeting in one place, as well as capturing new clients.
For example, among interested and already investors in this type of asset, there is a 69% chance of transferability, according to the research. The company’s goal is to strengthen its investment expertise and offer an increasingly complete, digital and uncomplicated platform.
The research also highlights that one of the main reasons to invest in crypto is the realization that it is a way to diversify investments and that it can provide financial returns above the market average in some scenarios.
Among young people, there is an expectation of financial independence, long-term returns, in addition to the perception of security and protection against market fluctuations.
Marcos Horie, CEO of XTAGE, highlights the security differences, with the adoption of the strictest international standards, and also the robustness, as Rico is part of XP Inc., the largest investment player in the country.
“Our work at XTAGE is guided by a thorough and careful analysis of the assets we make available to clients. With this new feature, Rico clients can also count on our rigorous curation and our ability to provide investors with greater access to the digital asset market.”
In addition, the executive reinforces the high potential of crypto assets in Brazil. According to a 2022 Chainalysis study, Brazil became the seventh largest cryptocurrency market in the world and the leader in Latin America.
In addition to various criteria, the study takes into account the volume of digital assets traded by investors in, for example, centralized and decentralized cryptocurrency exchanges (DEX) and peer-to-peer transactions.
It is worth remembering that XTAGE still does not release cryptocurrency withdrawals or allow deposits. Thus, customers can enter the platform and buy and sell the coins of other investors, a situation that should have been released by Rico on Monday.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
