{"id":60676,"date":"2023-10-03T09:18:59","date_gmt":"2023-10-03T13:18:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=60676"},"modified":"2023-10-03T09:19:01","modified_gmt":"2023-10-03T13:19:01","slug":"btg-pactual-buys-bitcoin-friendly-brokerage-orama","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/btg-pactual-buys-bitcoin-friendly-brokerage-orama\/","title":{"rendered":"BTG Pactual Buys Bitcoin-friendly Brokerage Orama"},"content":{"rendered":"\n

Brazillian bank<\/a> BTG Pactual, in its expansion, has acquired cryptocurrency-friendly brokerage Orama for $99M and is also planning to launch its own stablecoin.<\/p>\n\n\n\n

\"BTG
BTG Pactual Buys Bitcoin-friendly Brokerage Orama<\/figcaption><\/figure>\n\n\n\n

BTG Pactual has agreed to purchase all of Orama's shares for 500 million Brazilian reals ($98.7 million). BTG Pactual stated on October 2 that the acquisition is part of the bank's digital expansion strategy<\/a> and provides additional investment opportunities.<\/p>\n\n\n\n

BTG's digital platforms partner Marcelo Floro exclaimed, “We are very excited about the acquisition, which will provide Orama customers with access to the complete BTG platform.” <\/p>\n\n\n\n

According to the announcement, the acquisition is contingent on regulatory approvals from authorities, including the Brazilian central bank.<\/p>\n\n\n\n

Orama, founded in 2011, reportedly has roughly 18 billion reais ($3.6 billion) in assets under custody and approximately 360,000 clients. Orama, specializing in disseminating investment funds and fixed-income products, investigated cryptocurrency investment.<\/p>\n\n\n\n

In April 2022, Orama's wealth management subsidiary, Orama Singular\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, launched an actively managed fund focused on digital assets. Block3 is a multimarket cryptocurrency investment fund that offers exposure to Bitcoin, tokens, derivatives, and other crypto assets.<\/p>\n\n\n\n

According to Bloomberg data, the value of Orama's digital asset fund increased by more than 30 percent from 90.5 reais ($17.9) in October 2022 to 118.8 reais ($23.5) in September 2023.<\/p>\n\n\n\n

\"\"
Block3 Ativos Digitais FIM IE one-year price chart. Source: Bloomberg<\/figcaption><\/figure>\n\n\n\n

It is unknown if BTG Pactual's acquisition of Orama will result in new crypto-related products at the bank.<\/p>\n\n\n\n

BTG Pactual has been active in crypto-related endeavors in recent years, in addition to acquiring Bitcoin-friendly Orama. Using the bank's custody services, in April 2023, the bank announced intentions to launch BTG Dol, a new stablecoin pegged to the United States dollar at a 1:1 ratio. Previously, the bank introduced a crypto trading app that allowed customers to invest directly in cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Brazillian bank BTG Pactual, in its expansion, has acquired cryptocurrency-friendly brokerage Orama for $99M and is also planning to launch its own stablecoin. BTG Pactual has agreed to purchase all of Orama’s shares for 500 million Brazilian reals ($98.7 million). BTG Pactual stated on October 2 that the acquisition is part of the bank’s digital […]<\/p>\n","protected":false},"author":12,"featured_media":60679,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[16626,11108,16625],"class_list":["post-60676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-friendly-brokerage","tag-btg-pactual","tag-orama"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-7.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=60676"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/60679"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=60676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=60676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=60676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}