Crypto.com Joins Latin America's Largest Investment Bank on Stablecoin Push!

BTG Actual is the largest banking institution in Latin America. BTG is one of the largest banking institutions in Latin America. It recently came up with a big announcement as it recently took an initiative to push crypto banking within the region. They have joined forces with Crypto.com as their venture and together they will try to advance crypto banking.

Crypto.com announced this yesterday. Crypto.com claims it will list BTG Pactual's BTG Dol. For that they will run such operations through a stablecoin and they will choose a coin that is a stablecoin and has a 1:1 ratio with the US dollar. They highlighted this in the crypto exchange announcement. Also, their collaboration involves promoting the use of new stablecoins by linking them to popular crypto assets.

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Even recently they announced that they will be promoting new stablecoins by listing BTG Dol as well as joining prominent digital assets like Crypto.com and BTG Actual Bitcoin. According to the exchange, such a move would go a long way in jump-starting the digital economy in Latin America. They also feel that this joint venture will align with the strategic partnership's goal of bridging traditional and digital finance for users in the region. Such a move will lead to users in the region as well as new partnerships leading them to integrate crypto with traditional money. This move is very good news for users and their customers in the region as it will allow their clients to access the digital asset landscape.

This stablecoin was first announced in April last year. The stablecoin is based on BTG's own crypto tech platform, Mynt. The main goal of creating such stablecoins was to allow their customers to invest in crypto and so that investors could enjoy this benefit. Moreover, since such stablecoins are pegged to the US dollar, the purpose of creating stablecoins was to provide an easy and safe way for investors to invest in dollars.

One of the reasons why Exchange Site and BTG are taking such initiatives in the Latin America region is the region's significantly high potential. This new partnership required the popular crypto exchange site to obtain a payment institution license from Brazil's central bank. In 2022, Crypto.com announced that the license would legally allow the exchange to continue offering regulated fiat wallet services to its customers in Brazil. That is, they will now jointly make such efforts in Latin America and they hope that this will greatly benefit the users of the region and that this move will be very helpful for the economy of the region.