Largest LatAm investment bank launches stablecoin

BTG Pactual, the astir important concern slope successful Latin America, is launching its archetypal stablecoin called BTG Dol connected April 5.

The stablecoin volition beryllium backed by the US dollar connected a 1 to 1 parity to supply a amended transportation betwixt the integer system and the accepted one.

BTG Dol

BTG Pactual volition motorboat BTG Dol connected its crypto level Mynt, which is simply a standalone app that aims to connection a seamless idiosyncratic acquisition and acquisition contented astir crypto. However, BTG Pactual volition instrumentality connected the custodial responsibilities of BTG Dol and volition negociate its backing, security, owed diligence, and wealth laundering prevention.

With the BTG Dol, the slope hopes to connection its users the quality to dollarize a portion of their portfolio safely. BTG Pactual’s Head of Digital Assets, Andre Portilho, explained the superior intent of the stablecoin by stating:

“Once again, we are innovating successful utilizing fiscal exertion successful our clients’ benefit. When buying BTG Dol, investors person entree to an easier, safer and smarter mode to put successful dollars”, 

Mynt presently offers 22 crypto assets connected its level and allows users to put successful BTG Dol with a minimum of 100 Rands, which equates to astir $5.58 astatine the clip of writing.

CHF Stablecoin

Switzerland-based Centi was the latest institution that announced a stablecoin task akin to that of BTG Pactual.

On March 21, Centi launched its Centi Franc Stablecoin (CCHF), which is backed connected a one-on-one parity with the Swiss franc. Similar to BTG Dol, the custodial responsibilities of the CCHF are handled by a Swiss bank.

However, some stablecoins don’t precisely stock akin goals. While BTG Dol aims astatine allowing users to dollarize their portfolios, the CCHF is designed to service arsenic the “basis” for a blockchain-based outgo platform.

The station Largest LatAm concern slope launches stablecoin appeared archetypal connected CryptoSlate.