André Portilho, leader of digital assets at BTG. Photo: José Benigno.
O BTG Actual announced, on Monday (20), that it will have its own cryptocurrency trading platform. Mynt will go into operation at the beginning of the last quarter of the year, which starts in 10 days. In the beginning, it will have bitcoin and ether, the two main cryptocurrencies on the market. Therefore, it will be the first bank in the country to have such a service.
According to a statement, the cryptocurrency platform will be available to BTG Pactual digital and BTG+ customers gradually. “We will include other cryptocurrencies for trading over time. In addition, Mynt will bring content with the objective of educating and informing customers about this new technology”, said André Portilho, leader of digital assets at BTG Pactual.
In 2019, BTG was also the first to launch a security token backed by repossessed properties, the ReitBZ. The token is available abroad because it is not authorized for trading in Brazil. Last April, the bank was also the first to offer a bitcoin fund.
In ETFs, the index funds that are trading on the B3, BTG was, for example, the lead coordinator of the ETF de bitcoin da QR Asset. As well as participating in the product offer of Hashdex cryptocurrencies.
XP can revert to cryptocurrencies; Free Market CEO invests in Ripio
BTG’s announcement about Mynt comes amid market information that its competitor XP is preparing to return to offering cryptocurrencies. In April 2019, the company closed the XDEX platform, launched in October 2018 with private equity General Atlantic. What is said is that the pressure to close was Itaú, but with the separation of institutions, XP wants to return to the segment.
The Ripio stock exchange and portfolio, from Argentina, announced that it received a contribution of US$ 50 million (approximately R$ 250 million) in a Series B round. The operation’s leader was the Digital Currency Group. Among the new investors are Marcos Galperín, CEO and founder of Mercado Livre. The money will go to projects to open operations in Colombia, Mexico and Uruguay.
For now, Ripio operates in Argentina and Brazil. Here, you entered by purchasing BitcoinTrade in January. The company’s plan also includes starting an operation in Spain in 2022.