Brazilian Investment Bank BTG Pactual Unveils Dollar-Backed Stablecoin

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 said in an announcement on Tuesday.

The São Paulo, Brazil-based bank said it is enabling clients to “dollarize part of their equity in a simple, efficient and secure manner.”

Read more: CoinDesk