• AMOUNT OF $80 BILLION INVESTMENT BANK OF BRAZIL BITCOIN AND CRYPTO TRADING APP IS NOW AVAILABLE

  • BTG Pactual, a large Brazilian investment bank, has announced the launch of a new platform that will allow customers to make direct Bitcoin investments, making it the first large financial institution in Brazil to offer direct Bitcoin exposure.

    Users can buy Bitcoin through the bank’s Mynt platform. According to BTG Pactual CEO Roberto Sallouti, Mynt was created in response to a high demand from customers who wanted to trade in Bitcoin and cryptocurrency.

    Sallouti went on to say that Mynt will also host educational content to teach new users about Bitcoin, cryptocurrencies, and blockchain technology, saying, “As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”

    With the introduction of Mynt, BTG Pactual becomes the first major Brazilian financial institution to allow its customers to “participate directly” in the Bitcoin and cryptocurrency markets.

    BTG Pactual’s head of digital assets, Andre Porthilo, stated that the bank is regulated by both the Brazilian Securities Commission and local central banks, lending credibility to the country’s growing Bitcoin and crypto sector.

    It’s unclear whether BTG Pactual will accept Bitcoin withdrawals or if their Bitcoin product is a strike-price matching derivative. The bank’s Mynt application, on the other hand, is likely to introduce and make Bitcoin accessible to traditional conservative investors and bank customers.

    Many Bitcoiners are concerned because Mynt is promoting tokenized securities while failing to differentiate between Bitcoin and crypto on their platform. Notably, in 2019, BTG Pactual launched its own real estate-backed security token, “ReitBZ,” with a $500 minimum investment requirement.

    In Brazil, the bank has a history of setting precedents. BTG Pactual also became the first Brazilian investment bank to launch a Bitcoin and cryptocurrency fund in April 2021.

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