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On Monday, August 15, BTG Pactual, the largest investment bank in Latin America, debuted its crypto brokerage services.
Banks in Latin America and Brazil have been rushing to set their foothold in the crypto space. Amid uncertain economic conditions, demand for crypto assets in this region has shot up significantly. The announcement from BTG Pactual comes just on the same day when another competitor XP launched its services.
Dubbed Mynt, the crypto brokerage platform shall arrive as a separate product. However, there have been some deposit and withdrawal restrictions that exchanges have been facing owing to regulatory action. Andre Portilho, Head of Digital Assets said:
“We are working on this feature. In weeks or months, we plan to release. We think that clients will want to bring the assets to BTG, given the cases we had of withdrawal restrictions”.
Furthermore, the executive stated that they are also working to integrate stablecoin into their platform. However, Portilho declined to comment whether it would be the bank’s native stablecoin or one from a third-party issuer.
