BTG Pactual has announced the launch of its dollar-backed stablecoin dubbed BTG Dol. The bank now becomes the first banking institution in the Latin American region to launch a stablecoin.

BTG Pactual launches own stablecoin 

BTG Pactual, the largest investment bank in Latin America has taken its web3 push a step further by rolling out a new dollar-backed stablecoin powered by its Mynt crypto trading infrastructure.

Per a press release by BTG Pactual the new BTG Dol stablecoin is pegged at 1:1 with the United States dollar, and the bank acts as the custodian.

The bank says the new stablecoin is designed to offer its customers exposure to the U.S. dollar in a simple, secure, and efficient way.

Commenting on the launch of the BTG  Dol stablecoin, Marcel Monteiro, head of operations at Mynt, noted that the Mynt crypto trading app has been a hugely successful product for the bank, supporting more than 22 cryptocurrencies.

“This shows that BTG Pactual trusts[innovative] technologies and will continue with its commitment to offering new innovative digital products and services, with the solidity and trust that are BTG’s hallmark.”

Marcel Monteiro, head of operations at Mynt.

Preserving value 

While some advanced nations of the world like Russia, China, and others are now implementing measures to curb the USD dominance, the USD

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Author: Ogwu Osaemezu Emmanuel

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