Crypto.com partners with the largest investment bank in Latin America to offer crypto banking services
2024-02-27 10:04:26 ET
Crypto.com announced a major partnership with BTG Pactual, the largest investment bank in Latin America.
The two companies said in an announcement on February 27 that the cooperation aims to develop the crypto banking ecosystem in the region.
As part of the partnership, Crypto.com is set to list BTG DOL, a stablecoin issued by the BTG Group and pegged 1:1 to the US dollar. The stablecoin was launched in April last year and provides a reliable interaction between cryptocurrencies and the traditional financial system.
Crypto.com and BTG Pactual to encourage cryptocurrency adoption
In today's announcement, Crypto.com acknowledges the important role its alliance with BTG will play in the mass adoption of cryptocurrencies in Latin America.
According to the exchange, joining forces with BTG will see the two working together to promote BTG DOL as a cryptocurrency trading pair. This will include the addition of trading pairs for the most important currencies, including BTC and ETH.
The two companies hope that the partnership will lay the foundation that will stimulate further growth of the digital economy throughout Latin America.
“BTG Pactual is a true pioneer in seeing the potential of traditional finance and digital financial collaboration,” Eric Anziani, president and chief operating officer of Crypto.com, said in a statement.
According to Anziani, Crypto.com shares BTG Pactual's vision which focuses on advancing financial technology through innovations that help empower society.
Andre Portillo, Partner and Head of Digital Assets at BTG, said the collaboration represents another step in the journey to provide the bank’s clients with greater access to the digital assets economy.
Crypto.com's partnership with the Latin America-based investment banking giant adds to the crypto company's growing footprint in the region. The exchange launched its Visa Crypto.com card in Brazil in 2021.
In 2022, it obtained an payment institution (EMI) license from the Central Bank of Brazil.
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