Billion-$ bank launches BTG Dol stablecoin on MATIC blockchain to serve millions of people and companies

• The largest bank in Latin America has announced the launch of its very first stablecoin. Backed by the US dollar, the stablecoin will run on the Polygon blockchain.
• According to an official at the bank, this is yet another move that utilizes innovation to serve the customer’s needs.

Latin America’s leading investment bank BTC Pactual has taken a remarkable step towards stablecoin adoption. According to its latest announcement, the bank has launched a stablecoin.

The stablecoin, called BTG Dol, is the first from the bank. Like many other stablecoins in the crypto market, the price of BTG Dol is supported by the US dollar.

To enable an efficient adaptation between the traditional financial market and the new rising digital ecosystem, the stablecoin has a 1 to 1 parity to USD. The bank also revealed that the stablecoin will run on the Polygon exchange.

The stablecoin was launched through the bank’s own crypto platform Mynt. Mynt is a digital wallet and lending platform for consumers and businesses.

By using BTG Dol stablecoin, the bank’s customers can dollarise their equity easily and in the most efficient way. The bank also promises security for funds for customers.

BTC Pactual is the sixth largest banking institution in Brazil and the largest investment bank in Latin America and the Caribbean. The firm specializes in investment banking as well as asset and capital management.

The firm also offers business loans and sales and trading services to its plethora of clients. In addition to its long list of services, BTC Pactual offers advisory services to its clients in areas such as wealth planning, loans and financing.

The head of Digital Assets at BTG Pactual highlights the benefits of BTG Dol

Speaking about the launch of the dollar-backed stablecoin, the head of Digital Assets at BTG Pactual claimed that the firm is continuously benefiting from innovation in using financial technology to benefit its clients. He added that buying BTG Dol opens the way for easy and quick access to investing in dollars. André Portilho stated.

Once again, we are innovating to use financial technology to the benefit of our customers. When you buy BTG Dol, investors have access to an easier, safer and smarter way to invest in dollars.

Meanwhile, Marcel Monteiro, COO of Mynt, noted that almost 10 assets have been launched by Mynt in the past, and that 22 crypto-assets have already arrived on the platform. He added that the move by BTG Pactual reiterates the confidence banks have in technology. Monteiro stressed that Mynt will continue to focus on rolling out more innovative digital products and services. said Marcel Monteiro.

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 its investment in offering new innovative digital products and services, with the solidity and trust that is BTG’s hallmark.

Crypto News Flash does not endorse and is not responsible or liable for the content, accuracy, quality, advertising, products or other materials on this site. Readers should do their own research before taking any action related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damages or losses caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned.