By launching the Mynt platform, BTG Pactual, Brazil’s largest financial institution, will enable its customers to trade bitcoin and ether.
BTG Pactual, a major Brazilian bank, will enable its customers to directly trade digital assets via a new platform called Mynt. The offering will begin in the fourth quarter and will include the world’s two most popular cryptocurrencies, bitcoin, and ether.
According to a local report, the initiative, which would begin next quarter, would establish Banco BTG Pactual S.A. (BTG Pactual) as Brazil’s first bank to offer such services. Andre Portilho, the organization’s head of digital assets, confirmed the move. Additionally, he stated that the institution intends to expand its cryptocurrency offerings in the future:
“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.”
Almost every third person in Latin America, according to a recent survey, is interested in cryptocurrencies. However, the majority of people do not invest in bitcoin or any other altcoin due to a lack of knowledge. Having said that, BTG Pactual’s intention to incorporate educational functions regarding digital asset technology on its new platform may have a beneficial effect on the local population.
“We believe that this, combined with the educational content we intend to develop, will not only differentiate our platform but will also aid in the market’s development,” Portilho said.
BTG Pactual is one of the country’s five largest financial institutions, with headquarters in the megacities of Rio de Janeiro and Sa Paulo. Additionally, it is Latin America’s and the Caribbean’s largest investment bank.
Previous Cryptocurrency Attempts by the Bank
This is not BTG Pactual’s first foray into the bitcoin market. As CryptoPotato revealed in May, it launched ReitBZ, a security token. BTG Pactual became the first company to do so by deploying it on the Tezos (XTZ) blockchain. The bank disclosed that it intends to use the token in future security token offerings (STOs). Portilho opined at the time that Tezos was sufficiently “robust” to handle this type of operation:
“We chose to issue ReitBZ in collaboration with the Tezos Foundation in order to validate the Tezos blockchain and prepare to use it to execute more complex future STOs. We are confident in the technical robustness of the Tezos solution, and this issuance enables us to secure additional resources to invest in ReitBZ in the future.”
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