Brazilian Investment Bank BTG Pactual Brings Out Dollar-Backed Stablecoin

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.BTGPactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt. By JamieCrawleyCD.

BTG Pactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt.

The stablecoin, BTG Dol, is the world's first dollar-backed stablecoin issued by a bank, BTG Pactual saidThe São Paulo, Brazil-based bank said it is enabling clients to"dollarize part of their equity in a simple, efficient and secure manner."it rolled out in 2021Unlike cryptocurrencies like bitcoin and ether, stablecoins are pegged to traditional financial assets like fiat currencies - usually the U.S. dollar.

The market capitalization of stablecoins sits at around $133 billion with a 24-hour trading volume of nearly $39 billion,The largest stablecoins such as USDT and USDC are issued by private companies and as such have been

 

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BTGPactual JamieCrawleyCD Exciting news! More banks in Brazil will be issuing their own stablecoins soon. Totally different scenario than in the US Brazil is becoming a world leader in crypto adoption Subscribe to Brazil Crypto Report to keep track of the developments 🔥

BTGPactual JamieCrawleyCD Man, they should check out homecoinfinance instead. Stop depending on fiat/algo backed stables. Real world assets much more static, especially Fannie/Freddie quality US home loans!!

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