A Brazilian Investment Bank Launched Its Own Dollar-backed Stablecoin, BTG Dol

Apr 5, 2023

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BTG Pactual recently launched a unique stablecoin that enables customers to “dollarize” their assets.

A World First: BTG Dol

BTG Pactual, the largest investment bank in Latin America, has the world’s first dollar-backed stablecoin issued by a bank, called BTG Dol. The stablecoin is available on the bank’s crypto platform Mynt, which also supports 22 other cryptocurrencies. Unlike cryptocurrencies such as bitcoin and ether, stablecoins are pegged to traditional financial assets like fiat currencies, usually the U.S. dollar. This allows investors to keep their money in the digital asset ecosystem without being completely exposed to the volatility that is typical of most cryptocurrencies.

Novidade. Conheça o BTG Dol.

A com chancela do BTG Pactual e que possibilita dolarizar o patrimônio de forma segura e inovadora.

O BTG Dol tem paridade de 1 para 1:para cada BTG Dol emitido,um dólar é armazenado como lastro.

Quer saber mais?

— BTG Pactual (@BTGPactual)

Introducing The New Stablecoin

BTG Dol is designed to offer investors a safe and liquid option to protect their investments, enabling them to “dollarize part of their equity in a simple, efficient, and secure manner.” The new cryptocurrency can be purchased starting from R$100 ($20) on the Mynt app. The stablecoin is custodied by BTG Pactual, which guarantees and manages its backing, including due diligence, money laundering prevention, and compliance processes.

According to André Portilho, Head of Digital Assets at BTG Pactual, buying BTG Dol gives investors access to an easier, safer, and smarter way to invest in dollars. The new cryptocurrency has positioned BTG as a benchmark in the market and confirms the bank’s commitment to offering new innovative digital products and services with the solidity and trust that are BTG’s hallmark.

About BTG Pactual

BTG Pactual is active in Investment Banking, Corporate Lending, Sales & Trading, Asset Management, Wealth Management, and Banking. The bank offers a full range of banking services to support clients in their day-to-day life and in building their own stories. It has won numerous international awards and has over six thousand employees in Brazil, Chile, Argentina, Colombia, Peru, Mexico, the US, Portugal, and England.

The bank operates its own app called Mynt which provides users with simplified access to investments in crypto assets, educational materials about crypto, quotes, market, and technology news.

The Global Stablecoin Market

The market capitalization of stablecoins is around $133 billion, with a 24-hour trading volume of almost $39 billion. The largest stablecoins such as USDT and USDC are issued by private companies, and they have been subjected to increasing regulatory scrutiny, particularly since the collapse of algorithmic stablecoin UST last year.

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