Brazilian investment bank BTG Pactual is the first major financial institution in the country to facilitate customer direct investment in Bitcoin. BTG Pactual recently made this announcement, saying customers can now purchase the popular crypto on its Mynt platform.
Bank CEO, Roberto Sallouti, said that the creation of Mynt was due to popular demand from customers to start trading crypto. In addition, Salloum said that Mynt would have educational content on Bitcoin that new users can access. The said educational content will also cover the broader world of digital currencies and blockchain technology. In Sallouti’s own words:
“As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”
The launch of Mynt means that BTG Pactual is the first large financial institution in Brazil to offer direct crypto exposure.
BTG Pactual’s head of digital assets, Andre Porthilo, stated that the bank is under regulation from two main bodies. These are the Brazilian Securities Commission as well as local central banks. Portillo believes that this regulatory setup will give credibility to Brazil’s growing crypto sector.
As it stands, it is not clear whether BTG Pactual will allow Bitcoin withdrawals. However, the Mynt service will most likely provide easy access to BTC for traditional users and investors.
BTG Pactual was also the first bank in Brazil to launch a Bitcoin and crypto fund in April 2021.
Image Credits: Pixabay
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