The largest Brazilian investment bank has BTG Pactual Announced Launching a new platform that enables customers to invest directly in Bitcoin, it is the first large financial institution in Brazil to offer direct Bitcoin exposure.
The bank’s Mint platform allows users to buy bitcoin. Roberto Salute, CEO of BTG Pactual, described the creation of Mint that customers wanted to trade in Bitcoin and Crypto in response to their high demand, Cointelegraph Report
Sallouti added that Mynt will also host educational content designed to teach new users about Bitcoin, cryptocurrency and blockchain technology, noting: “As a new resource class, we will also have content to educate and inform our customers about this resource and technology.”
The introduction of Mint made BTG Pactual the first major financial institution in Brazil to allow its customers to “participate directly” in the bitcoin and crypto asset markets. The Rio Times, A local newspaper.
Andre Portillo, head of digital assets BTG Pactual, said the bank is regulated by both the Brazilian Securities Commission and the local central bank and would lend credibility to the country’s growing bitcoin and crypto sectors.
It is unknown at this time what he will do after leaving the post. However, the bank’s Mynt application has the potential to introduce and provide easy access to Bitcoin for conventional conservative investors and bank users.
The concern for many bitcoins is that Mint is simultaneously pushing tokenized securities, and has failed to differentiate between bitcoin and crypto on their platforms. Notably, in 2019 the BTG deal issued its own real estate-backed security token “RitBZ”, with a minimum investment limit of 500 500.
The bank has a history of setting a precedent in Brazil. In April 2021, BTG also became the first Brazilian investment bank to launch Pactual Bitcoin and Crypto Funds.