Brazilian bank issues USD stablecoin on Polygon blockchain

BTG Dol stablecoin token is available for buy from 100 Brazilian reals ($20) on the investment platform of BTG Pactual bank and in the cryptocurrency app Mynt

Brazilian investment bank BTG Pactual announced the launch of stablecoin BTG Dol. Which will be related to the U.S. dollar exchange rate. The token will be based on the Polygon blockchain, the bank told DeCrypt.

BTG Pactual noted that this is the world’s first ” dollar” stablecoin issued by the bank. Also according to André Portillo, head of digital assets at BTG Pactual.  This asset will allow its owners to transfer some of their capital into dollars in a simple, efficient and safe way.

Additionally, BTG Pactual will hold and manage reserves of stablecoin. It will also be responsible for regulatory compliance.

Also BTG Dol is available for purchase from 100 Brazilian reais (about $20). It can be purchased on the BTG Pactual investment platform and in the Mynt app. Which was launched by the bank in 2021 and currently supports 22 cryptocurrencies.

Also Polygon is a Layer 2 solution for Ethereum, one of several blockchain platforms. Which allows to optimize the processing of transactions on network. This blockchain is used by Mastercard, Adidas, Disney, Starbucks, Adobe and many others.

Our experts note that the Polygon token (MATIC) is ranked tenth by market capitalization among all cryptocurrencies with an index of $10.4 billion.