Brazil’s BTG Pactual said on Tuesday it will launch a stablecoin priced in U.S. dollars at a parity of one to one, as it seeks to position itself in the digital assets market.
The stablecoin, called BTG Dol, will be available on Mynt, the bank’s crypto-asset platform, and through BTG Pactual’s own investment system.
A stablecoin is a type of cryptocurrency that is pegged to a stable asset as a way to reduce volatility.
By Paula Arend Laier and Paul Simao via Reuters