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!!

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