BTG Pactual Acquires Cryptocurrency-Friendly Brokerage Orama
Brazilian investment bank BTG Pactual is expanding its digital platforms by acquiring Orama, a brokerage known for its cryptocurrency-friendly approach. In a deal worth 500 million Brazilian reais ($98.7 million), BTG Pactual will purchase 100% of Orama’s shares. The acquisition aligns with BTG Pactual’s strategy to offer more investment opportunities and enhance its digital expansion.
Access to the Complete BTG Platform
BTG Pactual expressed excitement about the acquisition, as it will provide Orama customers with access to the complete range of services offered by the bank. Marcelo Flora, BTG’s digital platforms partner, emphasized the benefits of the acquisition. However, regulatory approvals from authorities, including the central bank of Brazil, are required before the deal can be finalized.
About Orama and Its Focus on Cryptocurrency Investment
Founded in 2011, Orama manages nearly 18 billion reais ($3.6 billion) in assets and serves approximately 360,000 customers. While primarily focused on distributing investment funds and fixed-income products, Orama has also ventured into cryptocurrency investment. In April 2022, it launched Block3, an actively managed fund that provides exposure to various crypto assets.
Successful Trend for Orama’s Digital Asset Fund
Orama’s digital asset fund has experienced significant growth over the past year. According to Bloomberg data, it surged over 30% from October 2022 to September 2023. This success may indicate potential opportunities for new crypto-related products at BTG Pactual following the acquisition of Orama.
BTG Pactual’s Previous Crypto Ventures
In addition to acquiring Orama, BTG Pactual has been actively involved in crypto-related ventures. The bank plans to launch BTG Dol, a stablecoin pegged to the US dollar, and has already introduced a crypto trading app that allows customers to directly invest in cryptocurrencies.
Hot Take: Expanding Digital Platforms and Embracing Cryptocurrency
BTG Pactual’s acquisition of Orama reflects its commitment to expanding its digital platforms and embracing cryptocurrency opportunities. By integrating Orama into its ecosystem, BTG Pactual aims to offer a broader range of investment options for customers while capitalizing on the growing interest in digital assets. This move positions the bank as a key player in the evolving crypto landscape and demonstrates its proactive approach to meeting the changing needs of investors.
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