BTG Pactual

BTG Pactual launches first dollar-backed stablecoin issued by a bank

BTG Pactual, Latin America’s largest investment bank, launched BTG Dol, a stablecoin issued through Mynt, the bank’s crypto platform.

This is the world’s first dollar-backed stablecoin issued by a bank.

“Once again, we have innovated in the use of financial technology in favor of our customers. By purchasing BTG Dol, investors have access to the easiest, safest, and smartest way to invest in dollars,” said André Portilho, head of Digital Assets at BTG Pactual.


A reference in LatAm’s crypto market

For Marcel Monteiro, head of Operations at Mynt, the new crypto positions BTG as a reference in the market.

“We recently launched eight new assets. We already have 22 cryptocurrencies on the platform, and now we have our own stablecoin,” commented Monteiro.

“This shows that the bank trusts technology and will continue with its commitment to offer new innovative digital products and services, with the solidity and trust that is BTG’s brand,” added Monteiro.

BTG Pactual is the guarantor of the management and backing of this stablecoin and is also responsible for the security framework for the asset, such as anti-money laundering and compliance processes.

BTG Dol is already available on BTG Pactual’s investment platform and the Mynt app.

New scenario for stablecoins in Brazil

BTG Pactual entered the cryptocurrency sector in May 200, when it decided to issue a token on the Tezos blockchain (XTZ). Known as ReitBZ, this token is backed by Brazilian real estate and participates in security token offerings (STOs).

BTG’s recent move anticipates a scenario that should be commonplace starting next year in Brazil: traditional banks issuing stablecoins.


The Brazilian Central Bank is preparing the groundwork to launch the Digital Real in 2024, the CBDC of the South American country, and according to the institution, the population will be able to interact with this new system via stablecoins issued by banks and institutions connected to the system.

In this scenario, financial institutions such as BTG Pactual or fintechs such as Nubank can request authorization from the Brazilian Central Bank to transform their physical cash deposits into Digital Real.

About the Author

  • Jorge C. Carrasco

    Jorge C. Carrasco is a Contributing Reporter at Fintech Nexus. He reports on fintech, economy, banking, startups, and technology, covering the most impactful stories from a Latin American perspective.

    He has contributed to several international publications, such as Foreign Policy, The Spectator Australia, Estadão, Época, Washington Examiner, and Quillette. Originally from Havana, Cuba, he is now based in Brazil.

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