The modern day’s digital revolution played a decisive role in the expansion of the cryptocurrency industry. The cryptocurrency industry spreading as the result some of the world’s biggest financial institutions have entered the market to explant the opportunities provided by the cryptocurrency industry.
Central banks across the globe are planning to launch their own digital tokens in the name of CBDCs. It might take some time, but this plan has been on the cards. Apart from that there are multiple financial market tycoons and financial institutions who have already green signaled their support to the cryptocurrency market.
The same news comes from Brazil when recently the Brazilian investment bank announced to develop the crypto trading app that supports the altcoins. People across the globe can use this app directly for altcoin trading. Whereas BTG Pactual users can use this app for direct crypto investments. Once the app would be officially launched it will enable users to buy both Bitcoin and Ethereum as well.
The Bank is also looking for further diversity in its services. In the long-term future, the Brazilian Investment Bank will also support other crypto assets as well. Nowadays, there has been a trend that central banks across the globe and some of the biggest investment banks, all are planning to launch their own crypto tokens and exchanges.
According to the Bank’s head of digital tokens, Andre Porthilo, in future, the financial bank will support almost all type of digital tokens listed on all the major exchanges. He further added that Bank’s vision is to make crypto accessible for every single individual.
However, on the other hand, the CEO of Brazilian Investment Bank said that their only goal is to fulfill the consumer’s demand. Robert Sallout also shared with the media that there are multiple corporate clients of Bank who are asking from Bank to support all sort of crypto tokens. Hence, this has left the bank with no other choice but to practically provide its customers with access to crypto assets.
Brazil is not the only country that is rapidly adopting the cryptocurrency market. Previously El-Salvador has approved Bitcoin as the legal tender. As of this writing, the bank’s CEO informed media that they are closely working with the Brazilian regulatory authorities to comply with the country’s legal framework. Brazilian bank has assured the country’s legal regulators that they are committed to comply with every single provision. Before launching Mynt, the investment bank had earlier launched a security token, ReitBZ, backed with real estate. It seems that Brazil has finally decided to embrace the cryptocurrency industry. This is an encouraging sign for the crypto community.