Brazil Welcomes Two New Cryptocurrency Brokers

B. Ali
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  • The world’s largest investment bank and Brazil’s largest brokerage launched cryptocurrency trading services.
  • BTG Pactual, the country’s largest investment bank, launched Mynt, a cryptocurrency trading platform.
  • Mercado Pago previously announced plans to introduce cryptocurrency in Brazil.

Brazil’s largest brokerage and the world’s largest investment bank are launching cryptocurrency trading services in the country. The popularity of cryptocurrencies continues to grow across Latin America, as two major financial institutions in Brazil announced the launch of cryptocurrency trading platforms.

BTG Pactual, the country’s largest investment bank (a financial services firm), launched Mynt, a platform that allows users to trade BTC, ETH, SOL, DOT, and ADA. BTG Pactual is a Brazilian financial institution that operates in investment banking, wealth management, asset management, corporate lending, and sales and trading.

“Cryptocurrencies are a new technology with huge potential for transformation, bringing dangers and opportunities,” André Portilho, the bank’s head of digital assets, told CoinDesk.

Our foray into the cryptocurrency market is a significant development that will allow us to serve our clientele better and fill a void in the industry.

Following Coinbase, one of the largest brokerages in the country, XP, entered the cryptocurrency industry. As part of its partnership with Nasdaq, it has unveiled a new trading division called XTAGE.

XP, a Large Brokerage, Introduced XTAGE

XP, one of the nation’s largest brokerages, also played a significant role by introducing XTAGE, a new trading division that works with Nasdaq. According to a Nasdaq statement, XTAGE will allow over 3.5 million consumers to buy, sell, trade, and keep ETH and BTC.

Following the platform’s evaluation by XP in May, executive vice president Roland Chai praised Nasdaq’s “strong and adaptable infrastructure.” He expected XP to “offer additional asset classes” and “grow its platform consistently.”

These debuts follow Mercado Pago’s announcement that it will launch a cryptocurrency in Brazil. Mercado Pago is one of Latin America’s largest online payment systems.

After XP’s senior vice president Roland Chai tested the platform in May, Nasdaq lauded its “strong and flexible architecture.” Furthermore, he anticipated that XP would “reliably scale its platform and create new asset classes.”

These introductions adhere to a previous declaration by Mercado Pago to introduce cryptocurrency in Brazil. One of Latin America’s largest online payment systems is Mercado Pago.

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Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.