Brazil Business - Brazil

Brazil’s largest broker to allow cryptocurrencies trading

By Rocco Caldero · July 26, 2022 · 2 min read

Brazil’s largest broker, XP, announced that it would open its Xtage cryptocurrency trading platform to some clients in August. To begin with, only Bitcoin and Ethereum will be available, although a total of ten digital assets will be available by early 2023.

According to a Reuters report, XP, Brazil’s largest broker, will begin offering cryptocurrency services to its clients from August 2022.

The company is set to provide access to the cryptocurrency trading platform, with Bitcoin and Ethereum being the initially available assets. More assets are expected to be added by the end of the year.

The Brazilian Senate recently passed a bill introducing cryptocurrency regulations. (Photo: internet reproduction)

In an interview with Reuters, XP’s director of financial products, Lucas Rabechini, said the Xtage platform would be accessible to clients with an “investment profile suitable for this type of trading.” Currently, the platform is only open to employees.

BRAZIL AND XP BET ON CRYPTOCURRENCIES

Rabechini also told Reuters that the company plans to add ten cryptocurrencies by early next year. He was optimistic about the growth of cryptocurrencies and the technology itself and said:

“You can say ‘volume has been weak, there will be few orders,’ but we see this market growing systematically over time, and our long-term vision is not just about the price, but also about technology.”

XP has 3.6 million customers, and the Xtage platform was first announced in May. Brazil is known to have a growing interest in cryptocurrencies, and others also offer similar services.

Nubank is the best known of these and has partnered with Paxos to allow customers to buy BTC and ETH.

Cryptocurrencies are popular in Latin America, and Brazil is no exception. News from the region has been on the rise, with both positive and negative developments.

CRYPTO REGULATION IN BRAZIL

In addition to various banks disclosing cryptocurrency-related efforts, the government has also played a role in shaping how crypto works in the nation. The Brazilian Senate recently passed a bill introducing cryptocurrency regulations.

The bill, which has yet to be voted on by the Chamber of Deputies, will see regulatory agencies able to oversee crypto service providers. The central bank is likely to control the cryptocurrency sector.

The highlight of the bill is the anti-money laundering requirements.

The regulation could stimulate a new influx of investments and reassure banks and companies considering working with cryptocurrencies.

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Brazil — Live Market Board

B3 · São Paulo
Jul 11, 2026 · 05:05

Ibovespa · benchmark

177,866
+2.97%

L 172,761day rangeH 177,866

+30.07% over 12 months

Market breadth · 15 names

93% advancing

14 ▲ advancing1 declining ▼

Currencies, rates & key inputs

USD / BRL

5.11

-0.17%

EUR / BRL

5.83

-1.07%

Selic rate

14.25%

·

Brent crude

76.00

-0.39%

Iron ore

161.91

·

Sector heatmap · average move today

Utilities

+5.15%

ENEV3

Financials

+3.99%

ITUB4, BBDC4, BBAS3, B3SA3

Mining

+3.90%

VALE3, CSNA3, GGBR4

Consumer Disc.

+3.47%

AZZA3

Industrials

+3.00%

WEGE3, RENT3

Materials

+1.27%

SUZB3

Consumer Staples

+0.64%

ABEV3

Energy

+0.42%

PETR4, PRIO3

Latin America scoreboard

IndexLastTodayStrength

IbovespaBrazil
177,866
+2.97%

S&P/BMV IPCMexico
66,496
+0.59%

S&P IPSAChile
11,057
+0.28%

S&P MERVALArgentina
3,280,224
+2.43%

MSCI COLCAPColombia
2,307.67
+0.65%

BVL S&P PerúPeru
56,194.27
+1.29%

Full instrument board

Instrument	Last	Change	YoY	Prev.	High	Low	Volume
IBOV	177,866	+2.97%	+30.07%	172,742	177,866	172,761	—
USD/BRL	5.11	-0.17%	-8.50%	5.12	5.13	5.10	—
SELIC	14.25%		—	—	—	—	—
PETR4	39.65	+1.12%	+22.98%	39.21	39.97	39.34	27,209,700
VALE3	74.18	+1.41%	+34.19%	73.15	74.66	73.12	22,118,800
ITUB4	44.30	+4.02%	+29.44%	42.59	44.34	43.23	28,683,500
BBDC4	18.86	+4.78%	+16.85%	18.00	18.87	18.32	47,714,100
BBAS3	20.58	+2.90%	-2.97%	20.00	20.67	20.25	24,315,500
B3SA3	15.42	+4.26%	+9.44%	14.79	15.53	15.19	41,437,800
ABEV3	15.82	+0.64%	+19.58%	15.72	15.99	15.72	34,764,700
WEGE3	46.51	+1.68%	+16.57%	45.74	46.80	46.11	7,145,100
PRIO3	55.45	-0.29%	+32.66%	55.61	56.29	55.04	6,815,700
SUZB3	41.55	+1.27%	-16.65%	41.03	41.87	41.20	8,080,100
RENT3	41.10	+4.31%	+7.45%	39.40	41.32	40.31	8,330,300
AZZA3	19.10	+3.47%	-47.66%	18.46	19.30	18.81	1,703,700
CSNA3	5.18	+7.92%	-37.82%	4.80	5.20	4.95	14,590,700
GGBR4	23.01	+2.36%	+36.32%	22.48	23.10	22.58	10,449,500
ENEV3	27.55	+5.15%	+107.61%	26.20	27.55	26.61	16,185,800

Largest moves today

CSNA3
5.18
+7.92%

ENEV3
27.55
+5.15%

BBDC4
18.86
+4.78%

RENT3
41.10
+4.31%

B3SA3
15.42
+4.26%

ITUB4
44.30
+4.02%

AZZA3
19.10
+3.47%

IBOV
177,866
+2.97%

The session read

The Ibovespa rose 2.97%, with breadth positive — 14 of 15 names higher. Utilities led, while Energy lagged.

From The Rio Times

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