BTG Pactual, a major Brazilian investment bank, has launched its own stablecoin called BTG Dol, which is pegged to the US dollar on a 1:1 ratio. The stablecoin is based on BTG Pactual's proprietary crypto technology platform, Mynt, and will allow holders to "dollarize" a part of their equity and interact between the traditional financial system and the new digital economy. Marcel Monteiro, Mynt's head of operations, said the bank trusts technology and will continue with its commitment to offering new innovative digital products and services. In 2021, BTG Pactual's Bitcoin 20 Multi-Market Investment Fund reportedly became one of the first Bitcoin funds launched in Brazil, with custody and other services provided by Gemini Custody and Gemini Fund Solutions.

(By HELEN PARTZ)