BTG Pactual – one in every of Latin America’s largest funding banks – will reportedly launch its personal stablecoin, whose worth shall be tied to the American greenback.
The company joined the business years in the past by issuing a safety token known as ReitBZ and introducing a cryptocurrency alternate in Brazil.
The Newest Push
In accordance with Reuters, Banco BTG Pactual S.A. (higher generally known as BTG Pactual) will strengthen its presence within the digital asset sector by designing a stablecoin known as BTG Dol.
The asset shall be obtainable on Mynt (the financial institution’s cryptocurrency platform) and pegged to the official forex of the USA.
The entity described the upcoming monetary product as a brand new instrument that might “dollarize” the traders’ portfolios. It additionally promised to supply “the entire safety framework for the asset, corresponding to due diligence, anti-money laundering, and compliance processes.”
Marcel Monteiro – Mynt’s Head of operations – praised the event, saying this would be the twenty third token supported by the platform and the one one issued by it:
“We just lately launched eight new belongings. We have already got 22 cryptocurrencies on the platform. Now we now have our personal stablecoin.”
Mynt permits buying and selling with a number of the largest cryptocurrencies by market capitalization, together with Bitcoin (BTC), Ether (ETH), Solana (SOL), Polygon (MATIC), Polkadot (DOT), Cardano (ADA), and extra. It additionally helps the second-biggest stablecoin – USD Coin (USDC).
The Earlier Forays
BTG Pactual delved into the cryptocurrency sector in Could 2020 by issuing a token on the Tezos (XTZ) blockchain. Referred to as ReitBZ, it’s backed by Brazilian actual property and takes half in safety token choices (STOs). Andre Portilho – Head of Digital Property at BTG Pactual – stated:
“We determined to situation ReitBZ in partnership with the Tezos Basis to check the Tezos blockchain in order that we will use the know-how to execute extra complicated future STOs. We’re assured that the Tezos resolution is technically strong, and this issuance permits us to ensure extra sources to put money into ReitBZ transferring ahead.”
The financial institution introduced in September 2021 that it’s going to open a platform known as Mynt to supply its shoppers direct entry to cryptocurrencies. Upon introducing the brand new entity in August 2022, Portilho said:
“Crypto is a brand new know-how with nice potential for transformation, and it brings each dangers and alternatives. We’re providing direct entry to investments in the primary cryptocurrencies available on the market, in a easy and safe method, in a really intuitive and complete platform, with monetary content material and schooling.”
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