● BTG Pactual bank of Brazil sets in motion its own crypto exchange.
● The exchange named Mynt, will allow BTC and ETH trading.
● BTG is the largest investment bank in Latin America and the first to introduce a crypto exchange in Brazil.
Brazilian financial company BTG Pactual set up its own crypto exchange — Mynt. As of now, the exchange will only support Bitcoin and Ethereum trading. With the launch of Mynt, BTG bank becomes the first investment giant in Brazil to introduce its own crypto exchange.
JUST IN: 🇧🇷 Brazil’s largest investment bank BTG Pactual launches its own #crypto exchange, Mynt.
— Watcher.Guru (@WatcherGuru) August 16, 2022
In an interview by Exame, Pedro Frazão and André Portilho from BTG disclosed their bank’s plan for the crypto market. They said that there will be informative content that is a part of Mynt at all levels. Any product they launch will go along with content that provides information for the customers to understand more about crypto investments. Customers can put their queries on the BTG app, where its employees will be available to reply 24/7.
Notably, only the people who use the BTG Pactual bank can make use of its crypto exchange.
Speaking on the topic, Portilho said: “Mynt is backed by the mathematics underpinning its blockchain, and this technology guarantees the safety of its transactions.”
Our vision is that crypto technology will do to the finance industry what the internet did to the information industry, it changed it completely.
In the first stage of implementing Mynt, the bank will have two main assets of the crypto market – Bitcoin and Ethereum. Later on, it will include other cryptocurrencies on its exchange and change it to a complete blockchain asset-occupied platform.
BTG Pactual had been researching crypto and blockchain industries since 2017, and the team started its security token — ReitBZ in 2019. Additionally, it initiated a Bitcoin fund in April 2022.
On a related note, banks such as JP Morgan Chase, Wells Fargo, Capital One, Deutsche Bank, Citigroup, BNB Paribas, and Bank of America are some of the banks that have already entered the crypto realm.
Adding on, CBDCs have become popular in the blockchain world. The CBDC tracker shows that the Bank of Jamaica and the Central Bank of Bahamas are the banks that have launched CBDC.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
