Brazilian bank BTG Pactual will give its customers access to investments in Bitcoin.
This was reported by CNN Brasil, which reveals that BTG Pactual’s clients will be able to invest directly in Bitcoin and other digital currencies, such as ETH, early next quarter.
BTG Pactual fills a gap and gives access to Bitcoin
It is Latin America’s largest investment bank, founded in 1983 in Rio de Janeiro, but with offices in New York, London, Hong Kong and also active in countries such as Chile, Colombia, Mexico, Argentina and Luxembourg.
It specializes in private equity and venture capital, with approximately 2,300 employees, but also operates in the real estate investment sector, to the extent that it is one of the world’s largest asset managers, with investments in the United States, Latin America, Europe and Africa.
According to BTG’s head of Digital Assets, André Portilho, the bank recognized that there was both a great opportunity and a gap in the cryptocurrency sector, thus deciding to become the first Brazilian bank to provide direct access to these assets on its investment platforms.
Access to the crypto market for BTG Pactual clients will be made gradually available through a new group platform, Mynt, focused 100% on cryptocurrencies. The bank intends it to be a complete crypto platform, with various blockchain-based assets.
Portilho revealed that, as they have a wide range of tokenizable assets, they will evaluate in the future which new digital assets to make available on their new platform according to market demands, and always in compliance with current regulations.
Creating information for future customers
The platform will also host specific training content to try to inform and educate customers about these new technologies.
Already in 2019, BTG issued a security token (ReitBZ) and in April this year, it also launched a bitcoin fund.
On the basis of the numerous requests they receive from their customers, more and more banks are opening up to the possibility of offering tools to invest in cryptocurrencies and digital assets.
Tokenization adds further possibilities, as it also allows them to offer exposure to traditional assets, even in small fractions.
While it is the first bank in Latin America to launch a crypto platform, it is not the first in the world to do so. The banking system is becoming increasingly aware that it cannot stay out of crypto, and if these new tools are successful, it is to be expected that many banks will eventually offer them to their customers.
The penetration of new blockchain-based technologies into the world of global finance has probably only just begun, and is very unlikely to stop there.