The Brazilian bank BTG Pactual announced this Monday, September 20, that it will offer its clients the trading services of bitcoin (BTC) and ether (ETH) from the fourth quarter of this year. The new services will be available in mid-October through the Mynt trading platform.
BTG Pactual is the first Brazilian bank in offering its clients the possibility of investing directly in cryptocurrencies, according to what was reported by local media. Financial institutions have offered exposure to bitcoin in Brazil through funds of that cryptocurrency, such as the bitcoin fund offered last April by BTG Pactual itself, and also through a bitcoin ETF, as reported by CriptoNoticias.
BTG Pactual CEO Roberto Sallouti, commenting on the upcoming availability of bitcoin and ether for the bank’s clients, informed on his LinkedIn account that they will provide content to inform and educate about these assets.
In response to the demand of our clients who want to invest in cryptocurrencies on a platform they know and trust, we will have bitcoin and ether available on our platforms. As a new class of assets, we will also have content to educate and inform our clients about these assets and their technology. For those who want to invest in these assets, we always recommend that it be a small percentage, up to 2% of their investment portfolio.
Roberto Sallouti, CEO of BTG Pactual.
Banks interest in bitcoin on the rise
In February 2019 BTG Pactual had already shown interest in cryptocurrencies with the announcement of the launch of its own token, ReitBZ, through an initial coin offering (ICO), which had the goal of raising USD 18 million.
Traditional financial institutions have generally rated bitcoin as an extremely volatile and speculative digital asset. Nevertheless, several banks in the United States and Europe have been offering various investment plans in bitcoin. This is demonstrated by the recent case of the US bank Vast Bank, which announced that it will allow its clients to buy and sell crypto assets, as announced by CriptoNoticias on September 6.