Leading Brazilian investment bank BTG Pactual has launched a new platform that allows clients to make direct investments in cryptocurrencies.
Bank Coin’s platform currently allows users to buy Bitcoin (BTC) and Ether (ETH), with BTG Pactual expressing its intention to start supporting additional cryptoassets in the future. André Portilo, Head of Digital Assets at BTG Pactual, said:
“At this first moment, we need two large assets in the market, but we want to include other cryptocurrencies to trade over time. We need a complete blockchain asset platform. ”
Roberto Slotti, CEO of BTG Pactual, described the creation of coins as a response to “demand from our clients who want to trade cryptocurrencies.”
Sloti added that Mynt plans to host educational content designed to educate new users about cryptocurrency and blockchain technology, stating, “As a new asset class, we will also have content to educate and educate our customers about these assets and technologies.”
According to local news media The Rio Times, the launch of Coin BTC makes Pactual the first major Brazilian financial institution to allow its clients to “directly participate” in the crypto market.
Portilo stressed that the bank’s status as a regulator of both the Brazilian Securities Commission and the local central bank will boost confidence in the country’s growing crypto sector.
“Backed by BTG Pactual, coins have fundamental differences in security and reliability,” he said, adding that properties “are essential for a new class of investment that most people are not yet used to.”
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The coins are not BTG Pactual’s first attack on cryptocurrency, with the bank launching a real estate-backed security token ReitBZ in 2019 after two years of researching digital assets.
In April of this year, BTG Pactual also became the first Brazilian investment bank to launch a crypto fund, after introducing the Bitcoin 20 multi-market investment fund.