Brazilian investment bank plans to release digital currency offering
BTG Pactual, an investment bank in Brazil has decided to take a big step to advance in the digital currency market. It is an effort to break the distrust on the part of investors and take advantage of the expansion of a segment that is still in its infancy. The Brazilian bank ranks among Latin America’s largest investment banks and offers wealth management, corporate lending, asset management, and sales and trading services.
BTG Pactual is set to launch its digital currency platform called Mynt early next quarter. This innovation will make the institution become the first Brazilian bank to have its own digital currency platform to face the Bitcoin market.
The digital currency platform, Mynt, will initially offer the two main currencies on the market, BTC and Ethereum, but plans to include other digital currency options. Also, at the initial stage, the platform will only be available to those who are clients of the institution (BTG Pactual Digital, BTG+).
According to André Portilho, head of Digital Assets at BTG Pactual: “At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time, We will have a complete platform with blockchain-based assets.” Portilho added that Mynt will also provide educational and informational content for clients about digital currency.
Roberto Sallouti, CEO of BTG Pactual, says the bank has seen serious demand for digital currency from its clients in recent times and he believes that the creation of Mynt will provide them with a regulated and secure environment for trading digital currency assets.
In addition to enabling its clients to easily trade digital currencies via Mynt, BTG Pactual has hinted that it plans to educate newbies about digital currency assets and guide them on how to take advantage of the innovative investment vehicle.
“Mynt’s launch is in response to demand from our customers who wish to trade cryptocurrency. As a new asset class, we will also have content to educate and inform our customers about these assets and the underlying blockchain technology,” said Sallouti.
BTG Pactual has also been involved in blockchain. Last year, the investment bank launched ReitBZ (RBZ), a security token designed to offer its holders access to Brazil’s real estate market.
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