Brazilian Investment Bank BTG has become the first large financial institution in Brazil to allow virtual customers to invest directly in Bitcoin.
The Brazilian Investment Bank BTG Pactual has announced the launch of a new platform for direct investment in Bitcoin, thus becoming Brazil’s first large financial institution that offers direct bitcoin exposure. As of now the new platform only has BTC ETH trade option.
Mynt also hosts educational content focused on educating new customers about Bitcoin, and other related cryptocurrencies, and blockchain technology: “As a new asset class, we have content to educate and inform our customers about these assets and technology.”
Furthermore, as per local news outlet Exame, Mynt is the first major Brazilian financial institution to allow customers to “directly participate” in the bitcoin and crypto-asset markets.
According to the head of digital assets at BTG Pactual Andre Porthilo, the bank would be regulated by the Brazilian Securities Commission and local central banks, which would give credibility to the growing bitcoin and crypto sector in the country.
While it’s still not confirmed whether BTG Pactual supports Bitcoin withdrawals or whether their Bitcoin product is a strike-price matching derivative.
While Mynt is not the only endevor of BTG pactual in the cryptocurrency field, back in 2019 the bank had launched a real estate-backed security token ReitBZ.
However, the Bank Mynt application has the potential to provide easy access to Bitcoin for traditional conservative investors and bank customers who are new to these asset classes.
In April 2021, BTG Pactual became the first Brazilian investment bank to launch bitcoin and crypto funds.
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