According to Cointelegraph, Brazilian investment bank BTG Pactual is acquiring crypto-friendly broker Orama DTVM as part of its strategy to expand the bank’s digital platform. BTG Pactual has signed an agreement to purchase 100% of Orama’s shares for 500 million Brazilian reals ($98.7 million).
Founded in 2011, Orama allegedly manages nearly 18 billion reais ($3.6 billion) in assets and serves about 360,000 clients. Orama focuses on the distribution of investment funds and fixed-income products, but has also been exploring cryptocurrency investments.