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Biggest Latin American investment bank launches its own stablecoin

BTG Pactual, a Brazilian investment bank, has launched its own stablecoin named "BTG DoL".

By Finst News
• 2 min read
Biggest Latin American investment bank launches its own stablecoin

BTG Pactual, a Brazilian investment bank, has launched its own stablecoin named "BTG DoL". The "world's first dollar-backed stablecoin issued by a bank," per a press release.

The BTG DoL is backed by the U.S. dollar and tracks it 1:1. "We're innovating again and using financial technology for our clients. With the launch of BTG DoL, investors gain access to a simpler, safer, and smarter way to invest in dollars," says André Portilho, Head of Digital Assets at BTG Pactual, confidently.

The new cryptocurrency can be traded on the firm’s own crypto platform and via the so-called Mynt app. Investors who want to "dollarize" their holdings have a "safe and liquid option to protect their investments," BTG Pactual said. BTG Pactual confirmed to Decrypt that BTG DoL will run on the Polygon blockchain.

Read more here about stablecoins and how they work.

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