Cryptocurrency exchange Crypto.com has announced that it has entered into a partnership agreement with BTG Pactual to expand access to crypto services for users from Latin America.
BTG Pactual is the largest investment bank in Latam, and the partnership will allow Crypto.com to significantly expand its service offerings and improve the crypto landscape.
Under the terms of the partnership, Crypto.com will launch the listing of the first stablecoin issued by the bank, Bitcoin.com reported.
The Crypto.com platform will host the BTG Pactual (BTG Dol) token, and traders will be able to trade BTG Dol pairs with Bitcoin and Ethereum.
The stablecoin issued by BTG Pactual will be pegged to the dollar and will enable transactions.
The collaboration with BTG Pactual, Latin America's largest investment bank, will allow cryptocurrency exchange Crypto.com to expand its clients' geographic reach and opportunities in the crypto markets using BTG Dol.
The companies announced that the collaboration will include the launch of multiple BTG Dol trading pairs with major cryptocurrencies such as BTC and ETH. The primary goal of the companies' partnership is to integrate Latin America's traditional financial system with digital currencies and encourage traditional bank investors to enter the crypto market.
Crypto.com President Eric Anziani emphasized the benefits of the alliance with BTG Pactual: "Crypto.com Exchange is incredibly proud and excited to partner with BTG to help expand access to the region's emerging digital economy in a big way.
BTG Pactual's Head of Digital Assets, André Portillo, commented that the move aims to provide clients with "unprecedented access to the evolving cryptoasset landscape".
Investment firm BTG Pactual has been actively promoting its activities in the crypto sector since August 2022, becoming one of the first banks to offer custody services in Brazil.
The company has launched its own platform, Mynt, designed to invest in cryptocurrency assets. In addition, BTG Pactual launched BTG Dol, the first dollar-pegged banking stablecoin, in April 2023, making it easier for clients to dollarize their cryptocurrency investments.
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