BTG Pactual Launches Crypto Brokerage Services

Summary:
• BTG Pactual has launched initiated a crypto brokerage service. We discuss the growing love for crypto in the South American region.

BTG Pactual, the most prominent investment bank in Latin America, is now offering cryptocurrency brokerage services. The demand for cryptocurrency assets in Latin America and Brazil has increased significantly despite the current uncertain economic climate. The cryptocurrency brokerage platform Mynt, which will be released as a distinct product.

However, regulatory action has led to restrictions on how much users can deposit and withdraw from exchanges. The Mynt platform does more than just facilitate trading in cryptocurrency; it also offers educational materials to its users.

BTG Pactual and South America’s Romance with Crypto

Bitcoin, Ethereum, Cardano, Polkadot, and Solana are the initial five cryptocurrencies that the bank will support. Additionally, BTG Pactual is actively planning to incorporate stablecoin into their platform in the near future. However, the bank hasn’t said whether it will use its own stablecoin or one issued by another company. BTG has implied that it may list other coins. However, this decision will be based on client demand and BTG’s internal project evaluation procedure.

BTG Pactual isn’t the only large bank that has caught the South American crypto fever. Santander Brasil announced a few days ago that it would begin offering a cryptocurrency trading service to both institutional and retail clients. As demand for cryptocurrencies grows, the Brazilian government has been working to establish regulations for the sector. In April, the Brazilian Senate approved a bill to establish guidelines for the country’s virtual currency industry.

BTG Pactual provides a variety of financial services, including asset management, sales and trading, financing to corporations, and more. They pioneered the sale of security tokens backed by real estate assets among private investment banks. The security token, known as ReitBZ was released by the bank in 2019. With the South American market aggressively embracing cryptocurrencies, we are likely to see more mainstream financial institutions integrating the assets.