The Brazilian investment bank BTG Pactual presented the US-dollar-denominated stablecoin BTG Dol on the Polygon network.
The asset will allow investors to transfer their funds into the US dollar in a simple, efficient, and secure way.
The stablecoin is available on the bank-developed-for-clients Mynt platform. 22 of the most popular cryptocurrencies have been listed on the platform. Investments are possible from 100 BRL (~$19.8).
BTG Pactual holds and manages the stablecoin’s reserves, and handles regulatory-compliance matters.
Earlier in Singapore, authorities chose Polygon for testing tokenised fiat currency operations.
In June 2022, Circle added blockchain support to its payment platform for using USDC.
In December, Bermuda-based Jewel Bank announced plans to issue the US-dollar-denominated stablecoin Jewel USD (JUSD) on the Polygon network.