Brazilian Investment Bank BTG Pactual Brings Out Dollar-Backed Stablecoin

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

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!!

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japan PM Kishida: Necessary to speed up private investment through green transformation bondJapan PM Kishida: Necessary to speed up private investment through green transformation bond – by anilpanchal7 Japan USDJPY NewsTrading RiskAversion FiscalPolicy
Source: FXStreetNews - 🏆 14. / 72 Read more »

NWSL announces Bay Area expansion; new club planning $125M investment, per sourceThe National Women's Soccer League will officially grow to 14 clubs in 2024 with the arrival of a highly anticipated Bay Area expansion team ready to spend.
Source: WOKVNews - 🏆 247. / 63 Read more »

Watch live: Biden speaks in Minnesota as Cummins announces $1 billion energy investmentMore than half of medium and heavy-duty trucks in the U.S. use Cummins engines, and the upgraded facilities aim to decarbonize shipping vehicles. Good luck and success 👍!
Source: CNBC - 🏆 12. / 72 Read more »

Fastcase, vLex merger accelerates investment into legal AIAs artificial intelligence pushes deeper into the legal industry, Fastcase and vLex are merging in a deal the legal research companies said Tuesday will speed up the creation of AI tools for lawyers. I cannot imagine letting AI do legal work. The proofreading would be so critical.
Source: Reuters - 🏆 2. / 97 Read more »

Gavin Maloof Talks New Sports Investment In Las Vegas, Owning NBA’s Sacramento KingsFormer National Basketball Association owner Gavin Maloof joins Forbes senior writer Jabari Young to discuss his new venture as owner of a Pro Padel League franchise and building a business around a start-up league. GavMaloof JabariJYoung Relieved. I thought this was going to be about pickle ball.
Source: Forbes - 🏆 394. / 53 Read more »