XTB to Launch Spot Cryptocurrency Trading

XTB plans to launch spot cryptocurrency trading and is seeking a Head of Crypto to drive digital asset expansion.

Key Points:

• XTB Plans to Launch Spot Cryptocurrencies: XTB is exploring the introduction of spot crypto trading alongside CFDs, with a potential launch later this year, as part of its broader strategy to become a financial super app.
• Recruiting for Head of Crypto: The company seeks a “Head of Crypto” to build a comprehensive digital asset platform focusing on crypto custody, order execution, and regulatory compliance.

Publicly listed fintech giant XTB (WSE: XTB) is taking a major step forward in its digital asset strategy, with plans to launch spot cryptocurrency trading, potentially as early as this year. This move follows the company’s years of offering digital assets exclusively through contracts for difference (CFDs) and is part of its broader goal to become a leading financial super app.

XTB to Launch Spot Cryptocurrency Trading

While XTB has been offering CFDs for digital assets since 2018, the company intends to extend its offering to include “physical” cryptocurrencies—such as Bitcoin, Ethereum, and other popular coins. The move signals a significant expansion into the increasingly popular spot crypto trading market.

Filip Kaczmarzyk, Head of Trading at XTB, confirmed the development, stating that the company is considering adding spot cryptocurrencies to its product lineup. He noted that, if introduced, spot crypto trading would be offered alongside CFDs, allowing customers to choose between the two distinct types of instruments.

“We’re considering cryptocurrencies as part of our future product strategy,” Kaczmarzyk said. “If we proceed, crypto CFDs and spot trading will coexist as separate products.”

While XTB has yet to provide a concrete timeline for the rollout, industry insiders suggest the company could unveil the new offering in 2025. However, Kaczmarzyk clarified that other priorities currently take precedence, including long-term investment products such as retirement accounts.

“For now, we’re focusing on products like retirement accounts,” Kaczmarzyk added. “Bonds, for example, are not in our immediate plans, as clients prefer the simplicity of interest-bearing savings accounts.”

XTB’s Search for a Head of Crypto

XTB is recruiting a “Head of Crypto” to lead its foray into cryptocurrency trading. The role, recently listed on LinkedIn, calls for an expert in crypto custody, order execution, and regulatory compliance. It highlights the company’s commitment to establishing a comprehensive digital asset platform.

The job posting also emphasized the need for someone with a strong vision to help shape the future of cryptocurrency trading within XTB. Although the listing has expired, and it remains unclear whether the company has filled the position, it intends to explore cryptocurrencies.

A Vision for an All-in-One Financial Super App

XTB‘s move to embrace spot cryptocurrencies aligns with its broader ambition to become a one-stop financial platform. CEO Omar Arnaout also recently revealed the company’s vision of becoming an all-in-one super app for financial services, needing just a few more products to complete the offering. Spot cryptocurrencies could be one of these pivotal additions.

Since 2023, XTB has rolled out several innovations, such as fractional shares, ETFs, Investment Plans, multi-currency card payments, and retirement accounts. These product launches reflect the company’s broader strategy to diversify and meet the evolving needs of retail investors.

A Changing Client Landscape

While XTB has historically been known for its CFD offerings, the company has seen a noticeable shift in client preferences. According to Arnaout, around 80% of new customers now make their first transactions in stocks and ETFs rather than CFDs, signaling a change in investor intentions toward more traditional asset classes.

“We are seeing a shift toward equities, with clients opting for stocks and ETFs over CFDs, which reflects changing investor preferences,” Arnaout stated. “This trend aligns with our focus on delivering a diversified and robust offering.”

Impressive Growth and Strong Market Position

XTB‘s stock market performance in 2024 has been nothing short of impressive, with shares increasing by nearly 90% and reaching historic highs above 78 zlotys per share. The company’s recent Q3 results reported a 67% surge in revenue and a near-doubling of net profits, reaching 200 million zlotys. Investors eagerly await the company’s full-year and Q4 earnings report, which could further bolster its position as one of the leading players in the fintech sector.

As XTB continues to expand its product offerings and reshape its business model to meet the demands of the digital economy, the addition of spot cryptocurrency trading will likely play a key role in its future growth.

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