Latin America’s biggest investment bank, Brazil-based BTG Pactual, today announced the launch of its own stablecoin. 

Rio de Janeiro-based BTG Pactual said in a Tuesday statement that its BTG Dol token, available for clients now, is priced in U.S. dollars. 

BTG Pactual confirmed to Decrypt that the asset will run on the Polygon—the blockchain behind the 10th largest cryptocurrency by market cap MATIC. Polygon is a sidechain network that is compatible with Ethereum and is popular among big brands, such as Starbucks and Disney.

Stablecoins are cryptocurrencies pegged to a stable asset, in this case the U.S. dollar. They are an important part of the crypto ecosystem and two major stablecoins, Tether and Circle’s USDC, sit among the top 10 biggest digital assets by market cap. 

They’re useful for crypto traders who want to quickly enter and exit trades without using a traditional bank or fiat currency. Stablecoins can simply sit in their crypto wallets and traders can then cash them out later. They are particularly important in markets where dollars are restricted or

Go to Source to See Full Article
Author: Mathew Di Salvo

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details