BSTG Pactual Brazilian Bank launched a cryptocurrency investment platform – Bits Media

BTG Pactual, One of the largest banks in Brazil and Latin America, launched the MYNT brokerage platform with the possibility of investment in the BTC crypto -apparatus, ETH, THERE IS, DOT and SOL.

Head of the BTG Pactual digital assets department Andre Porilo (André Portilho) reported, that in conditions uncertain economic situation, the demand for cryptocurrencies in Brazil has increased significantly. At the initial stage, the Mynt platform, which became a separate product of the bank, will support five cryptocurrencies: BTC, ETH, THERE IS, DOT and SOL. This list will expand in the future., depending on customers' demand.

Portillo also noted, that the bank is working on integrating stablecoin into its platform, however, he did not specify, will this stablecoin be issued by BTG Pactual or a third party issuer?.

"We think, that clients will want to transfer their assets to BTG, taking into account the restrictions on withdrawal that have already arisen. We are working on this feature and plan to release it in a few months.", - Portillo said.

When asked about the possible price of Bitcoin, the top manager of BTG Pactual refrained from predicting its price. However, Portillo is not sure, that halving the Bitcoin mining reward could help increase the BTC rate. According to him, halving used to play an important role in this, but in the future, reducing the reward to miners will not greatly affect the Bitcoin rate.

One can assume, what, if the largest investment bank in Latin America began to support cryptocurrencies, then many financial institutions will follow his example. In July, the management of the Brazilian branch of Santander Bank reported, that in a few months it will launch cryptocurrency trading services. Bank Itaú Unibanco is also considering this possibility and intends to offer tokenization services to its clients.