Crypto.com, a Singapore-based cryptocurrency exchange, has forged a strategic partnership with BTG Pactual, Latin America’s largest investment bank, in a bid to broaden the accessibility of cryptocurrency services to traditional customers in the region.
Crypto.com inks collaboration with BTG Pactual
This collaboration marks a significant milestone as it involves the listing of BTG Dol, BTG Pactual’s dollar-pegged stablecoin, on the exchange’s platform. Notably, this integration represents the first instance of a bank-issued dollar stablecoin being incorporated into a major cryptocurrency exchange.
With a global customer base exceeding 80 million, the firm is strategically positioned to leverage this partnership to extend the reach of digital asset markets to a wider audience, particularly in Latin America. The partnership between Crypto.com and BTG Pactual underscores a concerted effort to bridge the gap between traditional banking systems and the rapidly evolving digital asset ecosystem.
By integrating BTG Dol into its trading platform, the firm aims to facilitate seamless transactions between major assets such as Bitcoin (BTC) and Ethereum (ETH), and the stablecoin backed by BTG Pactual. This initiative holds significant implications for the financial landscape of Latin America, where traditional banking institutions have traditionally maintained a stronghold.
By promoting the use of BTG Dol as an “efficient token” for crypto transactions, the collaboration seeks to streamline the entry of traditional bank investors into the digital asset market, thereby democratizing access to digital assets. Eric Anziani, President and Chief Operating Officer of Crypto.com, emphasized the strategic importance of the alliance with BTG Pactual, highlighting the opportunity to expand accessibility to the emerging digital economy in a region with significant growth potential.
Democratizing access to crypto in Latin America
Similarly, Andre Portilho, Partner and Head of the Digital Assets Unit at BTG Pactual underscored the bank’s commitment to providing unparalleled access to the evolving digital asset landscape for its customers. BTG Pactual has been actively involved in this sector since August 2022, when it became one of the pioneering institutions to offer custody services in Brazil through the launch of Mynt, an in-house asset investment platform.
Building on this foundation, the bank introduced BTG Dol in April 2023, positioning it as the first bank-issued stablecoin. This initiative aimed to provide customers with a convenient means of investing in dollars while leveraging the credibility and stability of a trusted financial institution.
The integration of BTG Dol into the exchange’s platform represents a significant step forward in the convergence of traditional finance and digital assets markets. By offering a regulated stablecoin backed by a reputable financial institution, the firm aims to instill confidence among investors and foster greater adoption of the assets in Latin America and beyond.
The partnership between Crypto.com and BTG Pactual reflects a broader trend within the financial industry, where traditional institutions are increasingly recognizing the potential of digital assets and blockchain technology. As the digital asset landscape continues to evolve, collaborations between exchanges and established financial institutions are likely to play a pivotal role in shaping the future of finance.
