BTG Pactual and Crypto.com Join Forces to Boost Crypto Banking in Latin America
Summary:
Latin America's leading bank, BTG Pactual, partners with Crypto.com to foster cryptocurrency banking in the region. Crypto.com will incorporate the BTG group's US dollar-pegged digital coin called BTG Dol, intending to push its usage among other dominating cryptocurrencies. This alliance, targeted to boost the digital economy and bridge the gap between traditional and digital finance, allows customers to access the world of digital assets. The partnership builds on Crypto.com's existing foothold in the region via a Payment Institution License from Brazil's central bank.
BTG Pactual, a major Latin American bank, is partnering with Crypto.com to propel the development of cryptocurrency banking in the region. Crypto.com unveiled this collaboration on February 27, stating it would incorporate BTG Dol, the BTG group's US dollar-stabilized digital coin, into its platform. The duo aims to increase the stablecoin's usage by associating it with dominant cryptocurrencies.
Alongside featuring BTG Dol, Crypto.com and BTG Pactual endeavor to popularize the stablecoin by juxtaposing it with distinguished cryptocurrencies such as Bitcoin and Ether. The merger aligns with the joint plan to propel Latin America's digital economy and link the realms of traditional and cryptocurrency finance. Andre Portilho, BTG's leader in digital assets, espoused that the partnership with Crypto.com is a significant stride towards merging cryptocurency and conventional finance. This arrangement facilitates customer access to the world of digital assets.
BTG Dol was first unveiled on April 4, 2023, with the intention of assisting owners in converting part of their wealth into dollars. This stablecoin operates on BTG's personal cryptocurrency platform, Mynt, established to offer investment opportunities in digital assets. Previously, Portilho stated that BTG Dol was created as a convenient and secure approach for investing in dollars.
Additionally, Eric Anziani, the chief operating officer of Crypto.com, expressed his belief in the vast opportunities for growth within Latin America. Both entities envision revitalizing the region's economy. Crypto.com's absorption of a Payment Institution License from the Brazilian national bank furthers this partnership, as it legally permits the cryptocurrency exchange to offer regulated fiat wallet services to the Brazilian populace since 2022.
Published At
2/27/2024 4:55:22 PM
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