BTG Pactual’s new crypto trading platform will handle a wide range of altcoins after initially supporting only BTC and ETH.
BTG Pactual, a leading Brazilian investment bank, has introduced a new platform that allows consumers to invest directly in cryptocurrencies.
BTG Pactual’s Mynt platform presently allows customers to buy Bitcoin and Ether, with the bank indicating that it plans to extend support for more crypto assets in the future. BTG Pactual’s head of digital assets, Andre Porthilo, said:
“At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time. We will have a complete platform with blockchain-based assets.”
Roberto Sallouti, the CEO of BTG Pactual, stated that the company’s creation was in response to “demand from our customers who wish to trade cryptocurrency.”
As a new asset class, Sallouti stated that Mynt would offer educational content meant to inform new users about cryptocurrencies and blockchain technology. He continued, “As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”
As reported by The Rio Times, BTC Pactual has become the first major Brazilian financial institution to allow its customers to “participate directly” in the cryptocurrency asset markets as a result of Mynt’s introduction.
Porthilo said that the bank’s standing as a financial institution that is licensed by both the Brazilian Securities Commission and the local central bank will provide legitimacy to the country’s developing cryptocurrency industry.
Adding, “With the support of BTG Pactual, Mynt has fundamental differentials in security and credibility [—] characteristics that are fundamental in a new category of investments that the majority of people [are] not yet familiar with.”
Despite the fact that Mynt is the bank’s first entrance into the cryptocurrency market, BTG Pactual has already launched its real estate-backed security token ReitBZ in 2019, following a two-year investigation into digital assets.
BTG Pactual also made history by becoming the first Brazilian investment bank to launch a cryptocurrency fund in April of this year, when it unveiled its Bitcoin 20 Multi-Market Investment Fund.
