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XTB plans spot Crypto trading, moving beyond CFDs in 2024
XTB plans to launch spot cryptocurrencies, expanding beyond CFDs. The fintech is hiring a Head of Crypto and aims to become a financial super app.
Fintech firm XTB (WSE: XTB) plans to introduce spot cryptocurrencies, expanding beyond its existing crypto CFD offerings. The company is moving toward its goal of becoming a financial super app, with a potential launch expected this year.
XTB recently posted a job listing for a “Head of Crypto” to build a digital asset trading platform. While the position has since been removed, the company confirmed it is actively considering spot crypto trading.
“We’re exploring cryptocurrencies and would treat spot trading as a separate instrument from CFDs,” said Filip Kaczmarzyk, Head of Trading at XTB. However, other priorities, like long-term investment products, currently take precedence.
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CEO Omar Arnaout reiterated XTB’s goal of becoming an all-in-one financial platform, with spot crypto being a key step. Since 2023, the company has expanded its offerings to include fractional shares, ETFs, multi-currency payments, and retirement accounts.
Despite its CFD roots, most new clients now favor stocks and ETFs, with 80% making their first trade in these instruments.
XTB’s stock has surged nearly 90% in 2024, hitting historical highs. Investors are eagerly awaiting the Q4 and full-year earnings, following a Q3 report showing a 67% revenue jump and net profit nearly doubling to 200 million zlotys.
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Last update: Jan 29, 2025