BTG Pactual, one of the biggest banks in Latin America, has made a landmark announcement of its first-ever dollar-pegged stablecoin.
The stablecoin named BTG Dol will be launched through Mynt, the bank’s own cryptocurrency platform.
According to the bank, the digital asset is backed 1:1 with the US dollar, ensuring stability in its value.
Marcel Monteiro, the COO of Mynt, is optimistic about the new development, stating that BTG Dol represents the bank’s continued commitment to technology and innovation in the digital finance space.
The stablecoin can be purchased on the BTG Pactual investment platform and the Mynt app, with an initial investment of as low as 100 reais ($20).
BTG Pactual had earlier launched the Mynt brokerage platform, offering investment in several crypto assets, including BTC, ETH, ADA, DOT, and SOL.
In Brazil, Santander Bank has announced that it plans to offer cryptocurrency trading services in the coming months, while Itaú Unibanco is also considering offering tokenization services to its customers