It remains unclear whether the Orama purchase will directly result in the development of crypto-related products and services at BTG Pactual.
Banco BTG Pactual SA Unit (BVMF: BPAC11), Brazil’s biggest investment bank, recently announced it has acquired 100% of the share capital of Orama DTVM, a prominent independent distributor for R$500 million (worth about $99 million).
BTG Pactual and Orama Form a Strategic Alliance
Orama, with more than R$17.9 billion ($3.6 billion) in assets under custody and an impressive customer base of 360,000 investors, has long been a formidable player in the Brazilian investment landscape. This acquisition is set to have far-reaching implications for both companies and the broader financial ecosystem.
Marcelo Flora, a partner responsible for BTG’s Digital Platforms, expressed his enthusiasm about the acquisition, stating:
“We are very excited about the acquisition, which will give Orama customers access to the complete BTG platform.”
This statement underscores BTG Pactual’s commitment to providing a comprehensive and integrated financial ecosystem for its clients.
Through the partnership, BTG Pactual aims to expand its digital channel strategy and further intensify the investment platform’s market. Additionally, the acquisition will allow BTG Pactual to leverage economies of scale, expand its customer base, and drive efficiencies. This move is expected to result in various synergies and productivity enhancements that will benefit both the bank and its clients.
Habib Nascif, the CEO of Orama, emphasizes the positive implications of the agreement for both customers and shareholders. He highlights that Orama’s customers will continue to enjoy access to quality products and services with the added seal of BTG’s solidity and credibility.
On the other side of the spectrum, the controllers of Orama will shift their focus toward “investment as a service,” offering solutions to retailers and companies from various sectors seeking to provide investment opportunities to their customers.
While the acquisition of Orama by BTG Pactual holds immense promise for the future of both entities, it is essential to note that the conclusion and closing of the purchase agreement are subject to necessary regulatory approvals, including those from the Central Bank of Brazil.
BTG Pactual’s Crypto Ventures
Meanwhile, it remains unclear whether the Orama purchase will directly result in the development of crypto-related products and services at BTG Pactual. However, it’s important to note that the bank has been actively involved in crypto-related ventures in recent years, indicating a growing interest in the digital asset space.
In April, BTG Pactual made headlines by announcing its plans to launch BTG Dol, a stablecoin pegged to the USD at a 1:1 ratio. This initiative showcases the bank’s commitment to exploring blockchain technology and digital currencies.
Moreover, BTG Pactual had previously partnered with the popular Gemini crypto exchange to launch its own blockchain-based security token. According to the bank’s announcement, the security token will be called ReitBZ and will be backed by the bank and distressed real estate holdings in Brazil.
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