Rico, a Brazilian brokerage firm part of XP Inc., has announced it is expanding its portfolio of operations to include new services, including crypto, for the next year.
The division is expanding its operations and will also enter the banking sector, launching digital account services and a credit card. The platform follows in the steps of companies like Nubank and others that have already included crypto in their service portfolio.Brazilian companies and banks are entering the cryptocurrency business as a way of offering a complete package of investments under just one organization. Rico, a Brazilian brokerage firm part of XP Inc.
The firm expects these products to be available for 50% of customers upon launch.While other competitors focus on institutional investors and large investment accounts, Rico will focus on younger players in the field, whose income is about $1,000. About this interest in these often overlooked investors, Pedro Canellas of Rico stated:We want to help clients to have a healthy consumption so they can become savers, investors and, later, big investors.