XTB plans to launch spot cryptocurrencies and is seeking a Head of Digital Assets to build a new platform, signaling a shift towards expanding its financial services.
XTB plans to launch spot cryptocurrencies and is seeking a Head of Digital Assets to build a new platform, signaling a shift towards expanding its financial services.
XTB plans to launch spot cryptocurrencies and is seeking a Head of Digital Assets to build a new platform, signaling a shift towards expanding its financial services.
Key Points:
XTB, the publicly listed fintech giant headquartered in Warsaw, Poland, is eyeing the launch of spot cryptocurrencies as part of its expanding product portfolio. The company, which has already offered digital assets in contracts for difference (CFD) since 2018, is now preparing to offer “physical” cryptocurrencies to its retail clients.
In an exclusive revelation, XTB confirmed that spot crypto trading is under active consideration, with plans to roll out the service potentially within this year. This marks a significant shift for XTB, primarily known for its CFD offerings in the digital asset space.
The move aligns with the company’s vision to evolve into an all-in-one financial super app. XTB‘s Head of Trading, Filip Kaczmarzyk, confirmed the company’s interest in spot cryptocurrencies, explaining that if implemented, crypto CFDs and spot trading would coexist as separate instruments. While the details are still under review, sources close to the matter suggest that the spot crypto offering could be available sooner than expected.
In a related development, XTB recently posted a job listing for a “Head of Crypto” on LinkedIn, signaling its commitment to expanding into the cryptocurrency market. The company seeks a candidate with knowledge of crypto custody, order execution, and cryptocurrency regulations. This role will be pivotal in creating a comprehensive digital asset trading platform for retail clients.
Although the job posting has expired, and XTB has not officially confirmed whether it has filled the position, the company is actively considering launching spot cryptocurrency trading.
Filip Kaczmarzyk, Head of Trading at XTB, commented on the company’s plans, stating that XTB is “considering cryptocurrencies” as part of its ongoing strategy to diversify its offerings. He clarified that, if introduced, the company would maintain both crypto CFDs and spot trading as distinct products.
However, Kaczmarzyk noted that XTB is currently prioritizing other initiatives. “We’re focusing on long-term investment products such as retirement accounts. Bonds have temporarily fallen out of our plans, as clients seem to prefer the simplicity of interest-bearing savings accounts,” he explained.
XTB‘s CEO, Omar Arnaout, further elaborated on the company’s long-term strategy during a visit to the firm’s headquarters. Arnaout revealed XTB‘s ambition to become an all-in-one financial super app, requiring the introduction of approximately five to six more products to realize this vision fully. The addition of spot cryptocurrencies would be an important milestone in this process.
Since 2023, XTB has made significant strides in diversifying its offerings. These include fractional shares, ETFs, multi-currency card payments, investment plans, and retirement accounts—expanding the company’s presence across more countries.
Furthermore, as XTB focuses on evolving beyond CFDs, it sees a shift in client preferences. “Currently, around 80% of our new clients make their first transaction in stocks and ETFs,” Arnaout noted, pointing to a notable change in the types of products that attract new users.
XTB has been on an impressive growth trajectory, with its stock soaring nearly 90% in 2024 and reaching historic highs above 78 zlotys per share. Investors are also eagerly awaiting the company’s Q4 and full-year financial reports. The most recent Q3 results showed a 67% year-on-year increase in revenue, alongside a nearly doubled net profit of 200 million zlotys.
With the potential launch of spot cryptocurrencies, XTB seems poised to continue expanding its reach in the financial markets. Whether this will play a significant role in the company’s push toward becoming a comprehensive financial platform remains to be seen—but it is clear that the company is taking its next steps with a forward-thinking approach to digital assets.
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