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Brazilian bank BTG Pactual allows investing in BTC and Ethereum

  • Through Mynt, the BTG Pactual bank will allow its clients to trade directly with the cryptocurrencies Bitcoin and Ethereum.
  • The firm hopes in the future to add more digital assets and have a complete platform with blockchain-based assets.

The banking entity BTG Pactual has launched a new platform called Mynt that allows BTG Pactual Digital and BTG + clients to trade directly with the cryptocurrencies Bitcoin and Ethereum. The news makes it the first institution in Brazil that facilitates participation in the field of crypto assets to those clients who request it.

In this first moment, we will have the two main assets in the market, but we will include other cryptocurrencies for trading over time. We will have a complete platform with blockchain-based assets”Stated Andre Porthilo, Head of Digital Assets at BTG Pactual

This resolution is one of the demands made by its clients, interested in operating with cryptocurrencies, and according to Andre Porthilo the firm has future plans to educate and inform about how to operate these assets and the technology that defines them.

The local environment The Rio Times, indicated that putting the Mynt platform into operation makes BTG Pactual a the first large Brazilian financial institution that allows its clients to “participate directly” in the markets of Bitcoin and other crypto assetss.

Bitcoin Magazine noted that it is unknown whether BTG Pactual will support Bitcoin withdrawals or the products will be BTC derivatives, however the application is likely Mynt introduce and provide easy access to Bitcoin for traditional investors and users of conservative banks.

The cause of concern for many Bitcoiners lies in the fact that Mynt is simultaneously pushing tokenized securities and is failing to differentiate between Bitcoin and crypto on its platform.”Pointed the medium.

BTG Pactual and the crypto market

This investment bank is regulated by both the Brazilian Securities Commission, as well as by the local central bank, which has allowed add this new advanced financial proposal to the growing cryptocurrency sector that is present in that South American country.

Andre Porthilo asserted that with the support of BTG Pactual, the Mynt platform brings with it essential features in terms of security and credibility, which are essential to have when having in a new category of investments to which a significant part of the population is still not accustomed, an aspect that according to the experts they must handle properly to provide solidity to the project and to be able to expand it even more.

This is not BTG Pactual’s first foray into the crypto market as the bank launched in 2019 a security token based on the Tezos blockchain, called ReitBZ, a digital asset that could be purchased with the Gemini Dollar (GUSD) stablecoin or Ethereum (ETH) and was backed by real estate assets.

ANDn April of this year they presented the Multimarket Investment Fund Bitcoin 20, backed by Gemini subsidiaries, Gemini Custody and Gemini Fund Solutions, and defined since its launch as ideal for providing personalized services.

Likewise, this Investment Fund was planned, at least initially, for BTG Pactual clients willing to make a minimum investment of one Brazilian real (approximately $ 0.18 dollars) and with an annual administrative fee of 0.5%.

According to Coindesk, this entity is among the largest investment banks in Latin America and offers wealth management, business loans, asset management, and sales and trading services.

The step forward that the BTG Pactual has taken shows that every day there are more banking institutions in the world that seek to actively participate in the crypto field, offering new alternatives to their clients and demonstrating that they appreciate them as very useful for the growth of the market and therefore improve the levels of social inclusion in South America. Of course, without neglecting a primary factor, the necessary education to the general public about the technology that digital assets possess.

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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