Brazilian broker RICO has announced plans to enter the cryptocurrency market – next year the company will launch a crypto exchange on its platform, as well as digital billing services and a credit card.
Technical support and operations support will be provided by Banco XP, which, like RICO, is part of the Brazilian brokerage and dealer company XP Inc. The RICO team will focus on attracting a young audience whose income is about $1,000.
It is expected that the products and services offered by the company will be in demand and available to more than 50% of this category of customers. RICO also intends to offer digital billing services linked to a branded credit card. The company is confident that by 2025 it will be able to triple its customer base in this way.
“We want to help young clients acquire the necessary life skills so that they can become first savers, then investors, and then large investors. We are going to reach the part of the population that few people pay attention to,” RICO said in a statement.
According to a survey conducted among 12 Brazilian presidential candidates in the 2022 elections, none of the candidates mention cryptocurrencies or bitcoin in the election campaign. They also do not use the term CBDC, or any other designation of the country’s Central Bank digital currency in the Real Digital project.
Source: Bits
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