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<p class="has-drop-cap">After launching its own security token and crypto asset platform, Brazil-based investment giant BTG Pactual is also launching its stablecoin, BTG Dol. The stablecoin will be backed by the US dollar and available on the bank’s crypto platform Mynt.</p>



<h3 id="btg-pactual-dives-deeper-into-crypto">BTG Pactual Dives Deeper Into Crypto</h3>



<p>BTG Pactual, the biggest investment bank in Latin America, said it would roll out a dollar-backed stablecoin, marking the bank’s latest foray into digital assets. The stablecoin, BTG Dol, will maintain a 1:1 parity to the US dollar, like USDT and USDC.</p>



<p>BTG Dol will be launched on Mynt, BTG Pactual’s crypto asset platform <a aria-label="launched in 2022 (opens in a new tab)" href="https://www.prnewswire.com/news-releases/btg-pactual-presents-the-mynt-crypto-asset-platform-301607780.html" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">launched in 2022</a>. The bank said the new stablecoin would allow investors to “dollarize” their portfolios while offering “the whole security framework for the asset, such as due diligence, anti-money laundering, and compliance processes.&#8221;</p>



<blockquote class="wp-block-quote">
<p>&#8220;Once again, we are innovating in using financial technology in our clients&#8217; benefit. When buying BTG Dol, investors have access to an easier, safer and smarter way to invest in dollars.&#8221;</p>
<cite>&#8211; said André Portilho, Head of Digital Assets at BTG Pactual</cite></blockquote>



<p>BTG Pactual entered the cryptocurrency space in 2019 when it launched its <a href="https://tokenist.com/btg-pactual-raises-3-3-million-from-retail-investors-with-real-estate-backed-sto-reitbz/" rel="dofollow" class="deco-link">security token</a>, ReitBZ, backed by real estate assets in Brazil. Today, the bank’s platform supports 22 cryptocurrencies and its new stablecoin.</p>


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<h3 id="stablecoins-still-targeted-by-regulators">Stablecoins Still Targeted by Regulators</h3>



<p>BTG Pactual’s dive into stablecoins comes amid a tumultuous period for the asset class. With a combined market value of around $136 billion, stablecoins are digital tokens usually backed by the US dollar, US treasuries, and similar traditional assets designed to maintain a steady value and hedge against volatility.</p>



<p>But even stablecoins have posed certain risks recently, forcing global regulators to crack down on the asset class. Last month, USDC, the second-biggest stablecoin in the world by market cap, <a aria-label="broke its 1:1 peg (opens in a new tab)" href="https://www.cnbc.com/2023/03/11/stablecoin-usdc-breaks-dollar-peg-after-firm-reveals-it-has-3point3-billion-in-svb-exposure.html#:~:text=Investing%20Club-,Stablecoin%20USDC%20breaks%20dollar%20peg%20after%20firm%20reveals,%243.3%20billion%20in%20SVB%20exposure&amp;text=The%20U.S.%20cryptocurrency%20firm%20Circle's,collapsed%20lender%20Silicon%20Valley%20Bank" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">broke its 1:1 peg</a> with the USD after its issuing company revealed it has almost 8% of its reserves at the collapsed lender Silicon Valley Bank (SVB).</p>



<p>Last year, the algorithmic stablecoin TerraUSD (UST) <a href="https://tokenist.com/luna-drops-50-in-a-day-as-ust-peg-fails/" rel="dofollow" class="deco-link">broke its peg</a> with the US dollar and saw its price collapse in hours, sending shockwaves through the crypto industry. As a result, global regulators, including the UK, <a href="https://tokenist.com/uk-government-to-introduce-stablecoin-regulation-after-ust-collapse/" rel="dofollow" class="deco-link">decided</a> to bring stablecoins under the regulatory framework to improve investor protection.</p>


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<p><strong><em>Do you think dollar-backed stablecoins will dominate the market</em></strong><em><strong>? Let us know in the comments below.</strong></em></p>
<p>The post <a rel="nofollow" href="https://tokenist.com/brazil-based-investment-bank-btg-pactual-to-launch-dollar-backed-stablecoin/">Brazil-Based Investment Bank BTG Pactual to Launch Dollar-Backed Stablecoin</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Brazil-Based Investment Bank BTG Pactual to Launch Dollar-Backed Stablecoin

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