Hello dear and loyal readers, today I bring you information related to the launch of BTG Dol first cryptocurrency issued by a conventional bank, although it sounds out of place this if we take into account all the attack executed by financial institutions to the new economic and financial scheme provided by the blockchain.
The truth is that, in spite of all the attack by financial entities to the new economic and financial scheme provided by the blockchain, there are private and state financial institutions that are betting on coexisting with the new financial structures that support the circulation of cryptocurrencies.
One of the financial institutions betting on cryptocurrencies is precisely the bank BTG Pactual, a Brazilian investment institution specialized in private equity and venture capital, additionally it is also responsible for the management of investment or equity funds and government funds in the emerging and potential Latin American market.
According to verifiable information, BTG Pactual announced the launch of BTG Dol, which will be a stable cryptocurrency that will have parity with the dollar and, according to what the Brazilian company said last Tuesday, it is the first digital currency in the world issued by a bank.
BTG Pactual bank, structured by divisions, works to comprehensively meet the diverse requirements of institutional, corporate and high net worth clients, which means that they are not opposed to coexisting with the cryptocurrency market, hence the reason why they have decided to take an important leap and offer the negotiation of Bitcoin and other cryptocurrencies of equal importance, including some with stable exchange rates.
Undoubtedly, the strategy behind BTG Dol first cryptocurrency issued by this prestigious bank, deepen its business in Latin America and venture into new customer segments such as the cryptocurrency market, remember that cryptocurrencies are gaining ground in Spanish-speaking countries.
It is worth noting that according to official statements made by André Portilho, current Director of Digital Assets at BTG Pactual bank, the BTG Dol cryptocurrency will be backed by dollars and will be issued in a 1:1 ratio.
Additionally Portilho emphasized, that one of the positive features of this new cryptoasset will be that it will allow investors to "dollarize" part of their wealth in an "easier" way. Let's hope that this type of initiative will continue to be repeated in traditional banking as this is a big step towards the mass adoption of cryptocurrencies.
SOURCES CONSULTED
Ambito Latin American bank launches world's first cryptocurrency issued by a financial institution. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: ThenatioNview
