Brazilian investment bank introduces cryptocurrency trading app – News Couple

Brazilian investment bank introduces cryptocurrency trading app

The cryptocurrency industry continues to expand as many financial players are joining in to take advantage of the constantly emerging opportunities.

There have been plans among many central banks around the world to launch digital currencies called Central Bank Digital Currencies. Many financial institutions, especially in the investment markets, are taking the initiative to support the industry.

In recent news, a Brazilian investment bank has launched a crypto-trading app featuring several digital currencies. BTG Pactual clients can now use this app for direct crypto investments. Currently, users of its Mynt platform can buy both Ether and BTC. However, the bank is also making plans to back more crypto assets.

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According to the bank’s head of virtual assets, Andre Porthilo, there will be more cryptocurrencies to trade on the platform very soon.

However, the CEO stated that they only fulfilled the wishes of their clients. Robert Salot revealed that many of their clients have shown interest in investing in cryptocurrency. So the bank had no choice but to provide access to them.

Plan to do cryptocurrency training

The cryptocurrency industry is becoming more and more popular, with El Salvador adopting BTC as legal tender. However, many people still do not understand the mechanics of the industry. As such, BTC Pactual aims to provide education geared towards cryptocurrency education, especially for its users.

Related reading | Bitcoin ETF Receives SEC Approval, Marking Historic Cryptocurrency Day

According to the CEO, the bank has to educate its customers about the technology and crypto assets available in the financial markets.

The application known as Mynt put the investment bank at the fore in the Brazilian market. No other investment bank has done what BTC Pactual has done by allowing its clients to invest directly in cryptocurrencies.

Moreover, Portillo stated that the bank operates under strict regulations of the Central Bank of Brazil and the Securities and Exchange Commission. Therefore, users will easily use the application, given the higher bodies that regulate it.

BTC Pactual journey so far

Prior to Mynt’s launch, the investment bank had earlier launched a security token, ReitBZ, backed by real estate. The launch took place two years ago, but before that, the bank spent time analyzing digital assets.

Related reading | Bitcoin’s “super trend” starts accumulating buy signals on all major timeframes

Apart from launching Mynt this year, BTC Pactual has earlier launched the Bitcoin 20 Multi-Market Investment Fund. The move put the bank in the best institution to launch a cryptocurrency fund among other investment banks in Brazil.

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