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One of Latin America’s Largest Banks Bets Heavily on Cryptocurrencies

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One of Latin America’s most important financial institutions launched a new platform to boost trade through digital assets. Specifically, BTG Pactual, the Brazilian bank, last Monday presented to the world its latest creation: Mynt.

Through this application, users will be able to trade with different cryptocurrencies, including bitcoin (BTC), ether (ETH), Cardano (ADA), Solana (SOL), and Polkadot (DOT). At the same time, they did not rule out adding more digital currencies, which will depend strictly on customer demand and an internal evaluation process.

“We are working on this feature. In weeks or months, we plan to launch it. We believe that clients will want to bring assets to BTG, given the cases we had of withdrawal restrictions,” said André Portilho, head of digital assets at the aforementioned financial institution.

Through Mynt, clients can access cryptocurrency investments and have educational materials, market and technology news, and 24-hour support service.

The app was announced in September 2021, with no objective other than offering investments through bitcoin and its mentioned peers.

Cryptocurrencies are all the rage in Brazil

The Brazilian Community is very generous to the “crypto” world. In addition to BTG Pactual’s initiative, the local Banco Santander recently announced that it plans to launch a cryptocurrency trading service for institutional and retail clients.

“We hope in the coming months to have definitions in this regard, who knows in the next release (of quarterly results), or even before,” said CEO Mario Leaoa, in dialogue with Folha de S. Paulo.

“We recognize that it is a market that is here to stay, and it is not necessarily a reaction to competitors positioning themselves, it is simply a vision that our client has demand for this type of asset, so we have to find the most correct and a more educational way to do it,” he added regarding the opportunities offered by digital currencies.

Joaquín Núñez es hincha de Racing Club de Avellaneda y licenciado en comunicación periodística por la Universidad Católica Argentina. Se especializa en el escenario internacional y en la política norteamericana // Joaquín Núñez is a fan of Avellaneda's Racing Club and has a degree in journalistic communication from the Universidad Católica Argentina. He specializes in the international scene and American politics.

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