Brazilian Brokerage Rico Seeks to Offer Crypto Services Next Year

Rico, a Brazilian brokerage platform owned by XP Inc., has announced that it is expanding its scope of operations to offer new services, especially cryptocurrency services. The company told Neofeed that it plans to launch a cryptocurrency exchange on its platform next year and to enter the insurance world. Similarly, the company plans to launch a digital account with affiliate cards later this year. These products will be run by Banco XP, but managed through Rico’s branding. The firm expects these products to be available for 50% of customers after launch.

While other competitors focus on institutional investors and large investment accounts, Rico will focus on young players in the field, with earnings around $1,000. The company believes its user base will triple by 2025. One of the features of the platform is the ability to invest from a credit card, allowing users to pay off part of their investment monthly and continue to invest.

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