Brazil’s biggest investment bank, BTG Pactual is launching direct bitcoin and ethereum buying and selling through a new platform called Mynt.
“We will make available bitcoin and ethereum trading to meet the demand from our customers who wish to invest in cryptos,” Roberto Sallouti, the CEO of BTG Pactual, said before adding:
“As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.
For those who want to invest in these assets, we always recommend that it be a small portion of your portfolio, up to 2% of your investment portfolio.”
BTG Pactual also provides wealth management, corporate lending, and asset management with it having about $2 billion in revenue a year and $72 billion in assets under management.
The bank was co-founded by Brazil’s current Minister of the Economy, Paulo Guedes, back in 1983 with the Brazilian government, both the current administration and previous ones, generally appearing to be quite friendly towards cryptos.
BTG Pactual also launched the Bitcoin 20 Multi-Market Investment Fund in April, “the first bitcoin fund launched by a Brazilian investment bank,” according to Gemini which is to act as its custodian.
Crypto adoption thus seems to be growing in Brazil where more traditional financial service providers, including investment banks, are now entering the market.