.BTGPactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt. By JamieCrawleyCD.
BTG Pactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt.
The stablecoin, BTG Dol, is the world's first dollar-backed stablecoin issued by a bank, BTG Pactual saidThe São Paulo, Brazil-based bank said it is enabling clients to"dollarize part of their equity in a simple, efficient and secure manner."it rolled out in 2021Unlike cryptocurrencies like bitcoin and ether, stablecoins are pegged to traditional financial assets like fiat currencies - usually the U.S. dollar.
The market capitalization of stablecoins sits at around $133 billion with a 24-hour trading volume of nearly $39 billion,The largest stablecoins such as USDT and USDC are issued by private companies and as such have been
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