BTG Pactual is preparing to launch a stablecoin, BTG Dol, pegged to the U.S. dollar. The stablecoin is aimed at simplifying the bank’s customers’ interaction with the digital economy.
BTG Pactual, the biggest investment bank in Latin America and the Caribbean focused on private equity and VC, announced the release of its own stablecoin. BTG Dol will be pegged to the U.S. dollar, and its use will be secured by the bank’s custodial services.
According to André Portilho, Head of Digital Assets at BTG Pactual, the stablecoin will allow the bank’s clients to “dollarize” their capital or a portion of it in a bank-controlled environment, as well as secure access to the digital economy. He also said BTG Dol holders would get a tool for “an easier, safer, and smarter way” to invest in the U.S. dollar.
The stablecoin will be issued via Mynt, a tech platform developed by the bank’s experts to give customers access to investing in digital assets. Marcel Monteiro, Head of Operations at Mynt, said the platform supports 22 cryptocurrencies, including BTC and ETH. In his opinion, adding a bank stablecoin shows that BTG Pactual “trusts technology” and is ready to expand the integration of innovative digital products and services for its customers.
The Financial Stability Board (FSB) believes that the adoption of stablecoins could increase the adoption of decentralized finance and strengthen DeFi and TradFi integration. However, commercial banks are more and more often considering deposit tokens as a more stable alternative to stablecoins.
