Brazil’s BTG Pactual Investment Bank Launches USD-backed Stablecoin

• BTG Pactual is getting ready to introduce the BTG Dol, a new stablecoin.
• The new BTG Dol stablecoin is built on Mynt, its in-house crypto technology platform.

With the debut of its stablecoin pegged to the U.S. dollar, major Brazilian investment bank BTG Pactual keeps adding new cryptocurrency services. Using the bank’s custody services, BTG Pactual is getting ready to introduce the BTG Dol, a new stablecoin tied to the U.S. dollar at a 1:1 ratio.

On April 4, BTG Pactual announced the launch, saying the stablecoin will assist clients bridge the gap between the old financial system and the new digital economy by allowing holders to “dollarize” a portion of their stock.

BTG Pactual’s head of digital assets, André Portilho, stated:

“We are innovating in using financial technology for our client’s benefit. When buying BTG Dol, investors have access to an easier, safer and smarter way to invest in dollars.”

Offering New Innovative Digital Products and Services

The new BTG Dol stablecoin is built on Mynt, BTG Pactual’s in-house crypto technology platform, according to the statement. Mynt, which debuted a year ago, is a cryptocurrency investment platform. Users may buy and sell Bitcoin and Ethereum on the platform.

Marcel Monteiro, Mynt’s chief of operations, stated:

“We recently launched eight new assets, we already have 22 cryptocurrencies on the platform, and now we have our own stablecoin. This shows that the Bank trusts technology and will continue with its commitment to offering new innovative digital products and services.”

Gemini, the cryptocurrency exchange established by Tyler and Cameron Winklevoss, has previously collaborated with BTG Pactual to function as a custodian for the bank’s digital asset holdings.

In 2021, Gemini Custody and Gemini Fund Solutions, two Gemini companies, supplied custody and other services for BTG Pactual’s Bitcoin 20 Multi-Market Investment Fund, making it one of the first Bitcoin funds created in Brazil.