Brazilian investment bank BTG Pactual said on Tuesday it will launch a stablecoin called "BTG Dol" that is 1:1 pegged to the U.S. dollar.
BTG Dol will be listed on the bank’s crypto asset platform Mynt and will be accessible through BTG Pactual’s own investment system.
BTG Pactual said it sees the asset as a new tool for investors seeking to “dollarize” their portfolios, adding that it will provide the asset with “a complete security framework such as due diligence, anti-money laundering and compliance processes.”
Marcel Monteiro, Mynt’s head of operations, said: “We recently launched eight new assets. We already have 22 cryptocurrencies on our platform. Now we have our own stablecoin.” (Reuters)