LATAM's BTG Pactual Launches Bitcoin, Crypto Exchange
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After customers create an account with the investment bank, which now holds more than $200 billion in assets, they will have access to educational material about Bitcoin. "Content will be a part of Mynt at all levels," Pedro Frazao, product manager, said in an interview before the release.
"Any product we publish will have information, such as a video or a paper, that gives the client the means to learn more about what they're investing in, and if they have any queries, the app includes a 24/7 chat option," Frazao said.
Custodian For Mynt Unclear
It is unclear who will support Mynt and act as the custodian of the actual Bitcoin. Customers of Mynt won't be able to withdraw their Bitcoin from the platform to keep it in their custody when it launches, but the platform intends to make this option available later. The business remains optimistic that the financial landscape will soon change.
"Our vision is that crypto technology will do to the finance industry what the internet did to the information industry; it changed it completely," Andre Portilho, partner and head of digital assets at BTG concluded in the interview.
BTG Pactual is the latest organization to enter the expanding Brazilian industry, following in the footsteps of XP Inc. This morning, it launched Bitcoin trading services on its brand-new platform, Xtage. Santander, a significant player in the financial industry, also started talking about aspirations to join the ecosystem.