The largest investment bank in Latin America, BTG Pactual, began its crypto brokerage services on Monday, August 15.
Latin American banks have been hurrying to position themselves in the crypto market. The demand for crypto assets in this region has dramatically increased amid shaky economic conditions. The BTG Pactual announcement was made the same day when XP, another rival, started its services.
The crypto trading platform, known as Mynt, will be released as a distinct product. Exchanges have, however, been subject to some deposit and withdrawal limitations as a result of regulatory action. Head of Digital Assets André Portilho 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.”
The CEO added that stablecoin integration into their platform is something else they are working on. Whether it would be the bank’s own native stablecoin or one from a third-party issuer, Portilho declined to comment.
Five cryptos will initially be supported via the Mynt platform from BTG Pactual: Solana, Cardano, Ether, Bitcoin, and Polkadot. “We will list more coins, but that depends on customer demand and our internal project evaluation process,” declared Portilho.