Crypto.com, a Singapore-based cryptocurrency exchange, partnered with BTG Pactual, Latam’s largest investment bank, to expand the access of Latam’s traditional customers to crypto services. The team-up entails listing BTG Dol, BTG Pactual’s dollar-pegged stablecoin, in Crypto.com’s platform, and its promotion in several significant trading pairs with bitcoin and ethereum.
Crypto.com Partners BTG Pactual to Expand Latam's Crypto Reach
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Crypto.com to List BTG Pactual-Issued Dollar Stablecoin
Crypto.com is opening its doors to the first bank-issued dollar stablecoin. The Singapore-based exchange with over 80 million customers worldwide announced a collaboration with BTG Pactual, the largest investment bank of Latam. The goal is to expand the reach of their customers to cryptocurrency markets by using BTG Dol, BTG Pactual’s dollar-pegged stablecoin, in its trading platform.
According to a press release, the team-up of the two institutions encompasses establishing several trading pairs between significant cryptocurrencies like BTC and ETH, and BTG Pactual, and the promotion of the stablecoin as an “efficient token” for these transactions. The promotion’s purpose would be to bridge Latam’s legacy economy with crypto, easing the entrance of traditional bank investors to the cryptocurrency market.
Eric Anziani, President and Chief Operating Officer of Crypto.com, recognized the relevance of this alliance, stating that the exchange was “incredibly proud and excited to partner with BTG, and to help broaden accessibility to the emerging digital economy in a significantly high potential region.”
Andre Portilho, Partner and Head of the Digital Assets Unit at BTG Pactual explained that this move represented another step for providing their customers with “unparalleled access to the evolving digital asset landscape.”
BTG Pactual has been active in the cryptocurrency sector since August 2022, when it was one of the first institutions that offered custody services in Brazil by launching Mynt, an in-house cryptocurrency asset investment platform. In April 2023, BTG Pactual issued BTG Dol, advertised as the first bank-issued stablecoin, to provide an easier way for its customers to invest in dollars with the backing of a trusted financial institution.
What do you think about the alliance between Crypto.com and BTG Pactual? Tell us in the comments section below.
