Friday, October 7, 2022

Brazilian BTG Pactual Introduces Crypto Trading Services With Mynt

Brazilian financial firm BTG Pactual has announced the inauguration of its crypto trading platform dubbed Mynt. According to the announcement, Mynt will function as an exchange in Brazil where Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies can be traded. 

Customers will eventually buy, sell and hold crypto in their wallets with the Mynt exchange. The deposit and withdrawal feature is yet to be activated on the platform. Researchers and analysis are still ongoing to enable these features. 

BTG Pactual wants to seize the opportunities presented by crypto firms that have halted withdrawals and trading on their platforms. Although It is rumored that the exchange can only allow the trade of just BTC and one other digital asset at its initial launch. 

Furthermore, the exchange will offer information services to users, educating them on the crypto ecosystem. Once the users open an account on the exchange, they would gain complete access to the educational content. To a very large extent, the educational content will be centered around BTC.

Notably, BTG Pactual is the largest investment firm in all of Latin America. The financial service provider boasts of up to $200 billion in assets under management (AUM). With this introduction of Mynt, BTG Pactual now ranks amongst the top financial firms in the region which give users direct access to BTC. 

Crypto Trading Platforms Mynt, XP Offers BTC And ETH Trade 

Last September, the Latin American investor had initially disclosed its intention to launch Mynt. The launch was scheduled to come up in Q4 of 2021.

Based on the original plan, the Brazilian exchange was meant to trade just BTC and ETH. André Portilho, BTG Pactual Head of Digital Assets stated in a statement, “At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time.”

At the end of the day, BTG Pactual’s aim is to develop an exchange that is filled with blockchain-focused digital assets. 

Similarly, Brazil brokerage firm XP Inc launched XTAGE, its crypto trading firm to sell, buy and store cryptocurrencies. Just like Mynt, only BTC and ETH are traded on XTAGE in the meantime.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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