Key Points
BTG Pactual, a significant banking institution in Latin America, has partnered with Crypto.com to enhance crypto banking in the region.
The partnership was announced on February 27, with Crypto.com agreeing to list BTG group’s BTG Dol, a stablecoin tied to the U.S. dollar on a 1:1 ratio.
The crypto exchange emphasized that the collaboration would promote the use of the new stablecoin by pairing it with well-known crypto assets.
Pushing Crypto Banking Forward
Besides listing BTG Dol, Crypto.com and BTG Pactual aim to promote the stablecoin by pairing it with major digital assets like Bitcoin (BTC) and Ether (ETH).
The exchange stated that this aligns with the strategic partnership’s objective to stimulate the digital economy in Latin America and bridge the gap between traditional and digital finance for its users.
Andre Portilho, BTG’s head of digital assets, noted that the partnership with Crypto.com propels them towards their goal of merging crypto with traditional finance.
Portilho emphasized that this step enables them to provide their clients with access to the digital asset landscape.
The stablecoin was initially announced on April 4, 2023, with the intention of aiding holders to “dollarize” a portion of their equity.
The stablecoin is built on BTG’s proprietary crypto tech platform, Mynt, which was developed to allow users to invest in crypto.
Portilho stated earlier that the stablecoin’s purpose was to provide investors with a simpler and safer method to invest in dollars.
Meanwhile, Crypto.com’s chief operating officer, Eric Anziani, recognized the high potential of the Latin America region.
He affirmed that they share BTG’s vision of strengthening the economy within Latin America.
The new partnership also expands upon Crypto.com’s entry into the region via its acquisition of a Payment Institution License (EMI) from Brazil’s central bank.
In 2022, Crypto.com announced that the license would legally permit the exchange to continue providing regulated fiat wallet services for its customers in Brazil.
