DMR News

Advancing Digital Conversations

Crypto.com Forges Alliance with Latin America’s Premier Investment Bank for Stablecoin Initiative

ByDayne Lee

Feb 29, 2024
Crypto.com Forges Alliance with Latin America's Premier Investment Bank for Stablecoin Initiative

BTG Pactual, a leading banking institution in Latin America, has embarked on a collaborative venture with Crypto.com, aiming to propel the integration of cryptocurrency banking services within the region. This partnership marks a significant step toward bridging the gap between traditional banking and the burgeoning world of digital finance.

Strategic Collaboration for Digital Finance

On February 27, Crypto.com unveiled its plan to list BTG Pactual’s BTG Dol, a stablecoin tethered to the United States dollar on a 1:1 basis. This listing is more than a mere addition to the crypto exchange’s diverse offerings; it signifies a concerted effort to enhance the adoption and utility of the BTG Dol by pairing it with leading cryptocurrencies.

The initiative to pair BTG Dol with heavyweight digital assets like Bitcoin and Ether underscores the partnership’s overarching aim: to catalyze the digital economy’s growth in Latin America and forge a seamless link between traditional and digital financial services for users across the region.

Advancing Crypto Integration with Traditional Finance

Andre Portilho, BTG’s head of digital assets, expressed enthusiasm about the partnership’s potential to accelerate the convergence of crypto and traditional finance. By facilitating access to the digital asset market, the collaboration with Crypto.com positions BTG Pactual at the forefront of financial innovation, offering its clientele a gateway to the expanding realm of cryptocurrencies.

Introduced on April 4, 2023, the BTG Dol stablecoin aims to simplify dollar investments for its holders. Built on BTG’s proprietary crypto technology platform, Mynt, the stablecoin offers a secure and straightforward avenue for investors to diversify their portfolios with dollar-denominated assets.

Emphasizing Latin America’s Untapped Potential

Eric Anziani, Crypto.com’s Chief Operating Officer, highlighted the immense promise of the Latin American market. Anziani’s remarks reflect a shared vision with BTG Pactual, focusing on economic empowerment and fostering financial inclusivity within the region through digital innovation.

This partnership also builds on Crypto.com’s strategic expansion in Latin America, marked by its acquisition of a payment institution license from Brazil’s central bank. The license enables Crypto.com to offer regulated fiat wallet services in Brazil, further solidifying its commitment to providing secure and compliant financial solutions to its users in the region.

Overview of BTG Pactual and Crypto.com Partnership

FeatureDescription
Partnership GoalTo foster the integration of cryptocurrency banking services in Latin America
Key OfferingListing of BTG Dol stablecoin on Crypto.com
Strategic AimTo link traditional and digital finance, enhancing the digital economy in Latin America
Expected OutcomeIncreased adoption of BTG Dol and access to digital assets for BTG Pactual’s clients
  • Partnership Highlights:
    • Listing of BTG Pactual’s BTG Dol stablecoin on Crypto.com.
    • Pairing of BTG Dol with major cryptocurrencies to boost its utility.
    • Shared vision of advancing the digital economy in Latin America.
    • Crypto.com’s regulatory milestones in Brazil, enhancing its service offerings in the region.

The alliance between BTG Pactual and Crypto.com represents a pivotal development in the integration of traditional and digital finance, particularly within the dynamic landscape of Latin America. By promoting the use of stablecoins like BTG Dol and leveraging regulatory advancements, this partnership is poised to unlock new opportunities for economic growth and financial inclusivity, heralding a new era of innovation in the region’s financial sector.


Featured image credit: piter2121 via Adobe Stock

Dayne Lee

With a foundation in financial day trading, I transitioned to my current role as an editor, where I prioritize accuracy and reader engagement in our content. I excel in collaborating with writers to ensure top-quality news coverage. This shift from finance to journalism has been both challenging and rewarding, driving my commitment to editorial excellence.