Latin America’s largest investment bank, BCG Pactual, has announced that it will launch the world’s first USD-denominated stablecoin issued by a bank.
The stablecoin, BTG Dol, will be backed at a one-to-one ratio with the US Dollar, offering its users an ‘opportunity to dollarize part of their equity in a simple, efficient and secure manner.’
André Portilho, Head of Digital Assets at BTG Pactual, said:
Once again, we are innovating in using financial technology for our clients’ benefit. When buying BTG Dol, investors have access to an easier, safer and smarter way to invest in dollars.
Marcel Monteiro, Head of Operations at Mynt, added that BCG Dol positions BTG as a benchmark in the market.
We recently launched eight new assets, we already have 22 cryptocurrencies on the platform, and now we have our own stablecoin. This shows that the Bank trusts technology and will continue with its commitment to offering new innovative digital products and services, with the solidity and trust that are BTG’s hallmark.
BTG Dol will be issued through Mynt – BCG Pactual’s crypto platform. Users who wish to purchase BTG Dol can do so on the BTG Pactual investment platform for a minimum of R$100.
The stablecoin will be custodied by BCG Pactual, which will further ensure its backing and security framework. The bank will provide additional due diligence, money laundering checks and compliance procedures.
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