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It is unclear whether the purchase of Orama will directly lead to the development of crypto-related products and services at BTG Pactual.
Banco BTG Pactual SA Unit (BVMF:BPAC11), Brazil’s largest investment bank, recently announced It has acquired 100% of the share capital of Orama DTVM, a leading independent distributor, for R$500 million (worth approximately $99 million).
BTG Pactual and Orama have formed a strategic alliance
With assets of more than R$17.9 billion ($3.6 billion) and an impressive client base of 360,000 investors, Orama has long been a formidable player in the Brazilian investment landscape. This acquisition is sure to have far-reaching implications for both the companies and the broader financial ecosystem.
Marcelo Flora, partner responsible for BTG’s digital platforms, expressed his excitement about the acquisition, saying:
“We are very excited about the acquisition, which will provide Orama customers access to the entire BTG platform.”
This statement underlines BTG Pactual’s commitment to providing a comprehensive and integrated financial ecosystem to its customers.
Through the partnership, BTG Pactual aims to expand its digital channel strategy and further accelerate the investment platform’s take-to-market. Additionally, the acquisition will allow BTG Pactual to take advantage of economies of scale, expand its customer base and increase efficiency. The move is expected to lead to various synergies and increased productivity that will benefit both the bank and its customers.
Habib Nassif, CEO of Orama, emphasizes the positive impacts of the agreement for both customers and shareholders. He highlighted that Orama customers will continue to enjoy access to quality products and services with the added seal of BTG’s strength and reliability.
On the other side of the spectrum, Orama’s controllers will shift their focus towards “investing as a service”, providing solutions to retailers and companies from a variety of sectors wishing to provide investment opportunities to their clients.
While the acquisition of Orama by BTG Pactual holds immense potential for the future of both entities, it is important to note that the conclusion and closing of the purchase agreement is subject to the necessary regulatory approvals, including from the Central Bank of Brazil.
BTG Pactual’s Crypto Ventures
Meanwhile, it is unclear whether Orama’s purchase will directly lead to the development of crypto-related products and services at BTG Pactual. However, it is 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 sector.
In April, BTG Pactual made headlines announcement of It plans to launch BTG Dolla, a stablecoin pegged to the USD at a 1:1 ratio. The initiative reflects the bank’s commitment towards exploring blockchain technology and digital currencies.
Furthermore, BTG Pactual was previously participation with 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.
Benjamin Godfrey is a blockchain enthusiast and journalist who loves writing about real-life applications of blockchain technology and innovations to promote general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies drives his contributions to well-known blockchain media and sites.
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