The new cryptocurrency trading platform by BTG Pactual had originally only supported Ethereum (ETH) and Bitcoin (BTC), but it now looks as if plans are being worked upon in order to enable the investment bank’s users to be successfully able to trade via a much wider range of different altcoins.
As such, the Brazilian company will be focusing on launching the new platform, which will potentially allow the users to invest in crypto directly.
‘More crypto assets will be added eventually’
BTG Pactual’s Mynt platform has enabled its users to currently only purchase either BTC or ETH. However, as alluded to earlier. There are definite plans to add more cryptocurrency assets soon. The investment bank’s head of digital assets, Andre Porthilo, said that naturally the first two cryptocurrencies to be offered had to be Bitcoin and Ethereum. However, this does not mean that these will be the only cryptocurrency assets available to the users. With that in mind, various other cryptocurrencies will be gradually added over time, which will greatly help with BTG Pactual’s overall vision of creating a platform that consists of blockchain-oriented assets.
Roberto Sallouti, the CEO of BTG Pactual, explained that the creation of Mynt was more of a response to the increasing demand from all of the users who have expressed an interest in trading with different cryptocurrency assets. He went on to say that education content will hence also be worked upon and hosted by Mynt in an effort to inform these users about how blockchain technology and cryptocurrencies actually function.
Brazil’s cryptocurrency sector to become more ‘credible’
With the launch of Mynt, BTG Pactual is now the first-ever major financial institution in Brazil to have enabled its users to partake in the crypto market directly. Andre had discussed the investment bank’s role and status in the country and how it can add credibility and legitimacy to Brazil’s cryptocurrency sector thanks to BTG Pactual being regulated via the local central bank as well as the country’s Securities Commission.
Furthermore, it was observed that Mynt had various key fundamental differentials regarding credibility and security, which was mainly thanks to BTG Pactual’s support. These characteristics are important as they represent a brand new class of investments that a vast majority of individuals may not yet be completely familiar with.
Additionally, this is not the first time that BTG Pactual has become involved in the cryptocurrency sector, as the investment bank had launched ReitBZ (a security token backed by real-estate) in 2019.