BTG Pactual, probably the most vital funding financial institution in Latin America, is launching its first stablecoin known as BTG Dol on April 5.
The stablecoin can be backed by the US greenback on a 1 to 1 parity to supply a greater connection between the digital economic system and the normal one.
BTG Dol
BTG Pactual will launch BTG Dol on its crypto platform Mynt, which is a standalone app that goals to supply a seamless consumer expertise and academic content material about crypto. Nevertheless, BTG Pactual will tackle the custodial tasks of BTG Dol and can handle its backing, safety, due diligence, and cash laundering prevention.
With the BTG Dol, the financial institution hopes to supply its customers the power to dollarize part of their portfolio safely. BTG Pactual’s Head of Digital Belongings, Andre Portilho, defined the first goal of the stablecoin by stating:
“As soon as once more, we’re innovating in utilizing monetary expertise in our purchasers’ profit. When shopping for BTG Dol, buyers have entry to a neater, safer and smarter strategy to spend money on {dollars}”,
Mynt at the moment presents 22 crypto belongings on its platform and permits customers to spend money on BTG Dol with a minimal of 100 Rands, which equates to round $5.58 on the time of writing.
CHF Stablecoin
Switzerland-based Centi was the most recent firm that introduced a stablecoin venture much like that of BTG Pactual.
On March 21, Centi launched its Centi Franc Stablecoin (CCHF), which is backed on a one-on-one parity with the Swiss franc. Much like BTG Dol, the custodial tasks of the CCHF are dealt with by a Swiss financial institution.
Nevertheless, each stablecoins don’t exactly share comparable objectives. Whereas BTG Dol goals at permitting customers to dollarize their portfolios, the CCHF is designed to function the “foundation” for a blockchain-based fee platform.
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