Top Brazilian investment bank BTG Pactual launches crypto trading app

Published at: Sept. 21, 2021

Leading Brazilian investment bank BTG Pactual has launched a new platform that enables customers to make direct investments in cryptocurrencies.

The bank’s Mynt platform currently allows users to purchase Bitcoin (BTC) and Ether (ETH), with BTG Pactual expressing its intention to launch support for additional crypto assets in the future. Andre Porthilo, BTG Pactual’s head of digital assets, stated:

“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."

BTG Pactual CEO, Roberto Sallouti, described Mynt's creation as being in response to “demand from our customers who wish to trade crypto.”

Sallouti added that Mynt plans to host education content designed to inform new users about cryptocurrencies and blockchain technology, stating: “As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”

According to local news outlet The Rio Times, Mynt’s launch makes BTC Pactual the first major Brazilian financial institution to allow its customers to “participate directly” in the crypto asset markets.

Porthilo asserted that the bank’s status as being regulated by both the Brazilian Securities Commission and local central bank will lend credibility to the country’s burgeoning crypto sector.

“With the support of BTG Pactual, Mynt has fundamental differentials in security and credibility,“ he said, adding the characteristics “are fundamental in a new category of investments with which most people [are] not yet used to.”

Related: Visa reportedly aims to integrate Bitcoin payments in Brazil

Mynt is not BTG Pactual’s first foray into the crypto sector, with the bank launching its real estate-backed security token ReitBZ in 2019 after spending a couple of years examining digital assets.

In April of this year, BTG Pactual also became the first Brazilian investment bank to launch a crypto fund after unveiling its Bitcoin 20 Multi-Market Investment Fund.

Tags
Adoption
Bitcoin
Business
Cryptocurrency Exchange
Cryptocurrencies
Brazil
Related Posts
Nasdaq partners with XP to launch cryptocurrency exchange in Brazil
XP informed Cointelegraph that XTAGE will launch in Q2 2022 and will be fully integrated into the XP Inc ecosystem — the largest investment brokerage in Brazil with more than 3.5 million clients and $168 billion assets under custody. XP stated that the exchange will initially offer the purchase and sale of cryptocurrencies, but the intention is that the platform will also support other digital assets and investment products based on crypto assets. “The creation of XTAGE represents an important milestone in advancing the digital asset market and our ability to offer investors greater access to the digital asset ecosystem. …
Adoption / May 12, 2022
Brazilian payment app PicPay launches crypto exchange with Paxos
Major Brazilian payment application PicPay is moving into cryptocurrencies by integrating a crypto exchange service allowing users to buy Bitcoin (BTC) and Ether (ETH). The firm officially announced on Wednesday that PicPay clients can now buy, sell and store two major cryptocurrencies, BTC or ETH, directly on its app. PicPay pointed out that its choice was due to the real use cases provided by these digital assets, including security and many other benefits. The firm stated: “Blockchain technology, which is behind coins like Bitcoin and Ethereum, is already used in the real estate sector, the insurance industry and even the …
Adoption / Aug. 12, 2022
Crypto mergers and acquisitions doubled to $1.1B in 2020, PwC reports
The consolidation of cryptocurrency-related companies surged massively in 2020, hitting a new record in deal activity, according to a new report by professional services network PwC. The total volume of mergers and acquisitions in the crypto industry more than doubled from $481 million in 2019 to $1.1 billion in2020, PwC said in a Monday market overview, as seen by Bloomberg. The average deal size in crypto surged from $19 million in 2019 to nearly $53 million, with crypto fundraising increasing 33% in overall value in 2020. Countries in the EMEA region saw a notable spike in the number of deals, …
Adoption / March 29, 2021
Blockchain.com acquires SeSocio to cement presence in Latin America
Major cryptocurrency wallet and data service Blockchain.com is expanding in Latin America by acquiring SeSocio, a major crypto company based in Argentina. One of the biggest investment platforms in Latin America, SeSocio will now merge with Blockchain.com to help them scale operations across the region, the firm officially announced Nov. 30. As part of the acquisition, 100 SeSocio employees will join Blockchain.com, immediately bringing its global headcount to 400 people. Together, the firms will focus on providing crypto-enabled financial services to the unbanked and underbanked not only in Argentina but also other countries where Blockchain.com operates, including Brazil, Chile, Colombia …
Adoption / Dec. 1, 2021
El Salvador postpones Bitcoin bonds to September: Report
The government of El Salvador has reportedly decided to postpone the issue of a Bitcoin (BTC)-backed bond due to the unfavorable market conditions fueled by the geopolitical crisis. El Salvador’s “Volcano Bond” will not go live in March as the Salvadoran government expected previously, finance minister Alejandro Zelaya said in an interview with a local TV channel. Zelaya claimed that the delay was due to the volatile prices of BTC fueled by the Russia-Ukraine crisis. He added that the government of El Salvador decided to wait for favorable conditions in the financial market, expecting September at the latest, stating: “Now …
Adoption / March 23, 2022