Latin American banking giant BTG Pactual is launching a crypto trading platform in Brazil.

The largest investment bank in Latin America, BTG Pactuallaunched a crypto-trading platform called Mynt. However, the platform Mynt does not currently offer cryptocurrency deposits or withdrawals.

An overview on the trading platform Mynt

The bank’s new trading platform, called Myntwill allow users toaccess bitcoin directly. This will make it one of the first leading financial institutions in Brazil to do so. In addition, the investment bank will provide educational content about bitcoin to all its users once the users create an account.

pedro Frazaoproduct manager at Myntsaid : “The content will be part of Mynt at all levels. Any product we launch will be accompanied by content such as a video or article that will provide the customer with the means to better understand what they are investing in, and if they have any questions, the app has a function of cat 24 hours a day and 7 days a week. »

Also read: Monero completes hard fork improving security and privacy.

Andrew PortilhoPartner and Head of Digital Assets at BTGsaid thatit was not yet clear who would support Mynt and would serve as the custodian of physical bitcoin. At launch, customers of Mynt will not be able to withdraw their bitcoins from the self-medication platform. However, the platform plans to enable this feature in the future.

“We are working on this feature. In weeks or months we plan to go out. We believe customers will want to bring the assets to BTGgiven the instances we have had of withdrawal restrictions. »

Launches of cryptographic services in Brazil

Over the past year, Brazil has seen several crypto-related launches, or at least announcements about it. BTG Pactual therefore joins other institutions entering the growing Brazilian market. In effect, Santander Brasil announced the launch of crypto trading for institutional and retail clients. Besides this, XP Inc.. earlier today launched trading services of bitcoins on its new platform xtage.

On the other hand, Meta also filed for trademark registration in Brazil for crypto-related services. The development hasn’t been updated much since then, but it underscores the company’s focus on the country.

Separately, the Brazilian government is also focusing on regulating the crypto market as interest grows. The Brazilian Senate passed a bill to regulate crypto exchangesand the central bank could be tasked with regulating the crypto industry.

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