Top Brazilian bank BTG Pactual launches crypto trading app
Brazil’s leading investment bank BTG Pactual has recently announced the launch of a new platform that would enable its customers to make direct investments in crypto.
Mynt platform of the bank currently lets users purchase Bitcoin and Ether, as BTG Pactual expresses its plans to release support for other crypto tokens in the coming future.
Head of Digital Assets at BTG Pactual, Andre Porthilo, has said that the bank would “include other cryptos for trading over time,” enabling “a complete platform with blockchain-based assets” for its users.
CEO Roberto Sallouti has described Mynt’s new creation as a response to their customers’ demand who wish to trade cryptocurrencies.
Sallouti also said that Mynt is making plans for hosting educational content that is designed to inform new users about cryptocurrencies and blockchain technology. He said that as an emerging asset class, content for educating the customers is vital.
The local news outlet, The Rio Times, has reported that with Mynt’s launch, BTC [actual has become the first major Brazilian bank to allow customer participation in the crypto-assets market space “directly’.
According to local news outlet The Rio Times, Mynt’s launch makes BTG Pactual the first major Brazilian financial institution to allow its customers to “participate directly” in the crypto-asset markets.
Porthilo has asserted that the BTG Pactual’s status is being regulated by both the local central bank and the Brazilian Securities Commission so that this would lend credibility to the country’s sprawling crypto sector.
BTG had made its foray into the crypto industry back in 2019 with a real estate-backed security token, ReitBZ.
In April 2021, BTG Pactual was also registered as Brazil’s first investment bank that had launched a crypto fund when it unveiled its Bitcoin 20 Multi-Market Investment Fund.