The largest investment bank in Latin America (LATAM), BTG Pactual, debuted its crypto brokerage services in Brazil. To begin, BTG Pactual has launched the new crypto exchange ‘Mynt’ which will enable users to have direct access to bitcoin and other cryptocurrencies.
This step has placed BTG Pactual among the leading financial institutions in Brazil, setting its foothold in the crypto space. Moreover, the investment bank with over $200 billion in assets under custody will offer educational content to all its users about bitcoin, once the users have established an account.
The product manager at Mynt, Pedro Frazao said that the content will be a part of Mynt at all levels. He further stated that any product that a bank launches will come along with some content like a video or a paper that provides the means for the users to understand more about what they’re investing in.
Another unique feature is that customers can also ask questions under the 24/7 chat function in case of any doubt. Reportedly, the platform is facing restrictions on some deposits and withdrawals owing to regulatory action.
Head of Digital Assets Andre Portilho said the bank is working on this feature and in the coming weeks or months BTG Pactual plans to release it. For now, the Mynt platform will support five cryptocurrencies including Bitcoin (BTC), Ether (ETH), Cardano (ADA), Polkadot (DOT), and Solana (SOL).
Moreover, Portilho said that the bank is also working to integrate stablecoin into its platform. There has been no clarification from Portilho that whether it would be the bank’s native stablecoin or one from the third-party issuer.
Earlier today, Brazil’s largest brokerage firm XP launched Bitcoin and Ether trading platform ‘XTAGE’. The platform has been developed in partnership with major American stock exchange Nasdaq and crypto custody firm BitGo. With the big financial players joining the crypto bandwagon, more firms will participate in the space.
