Brazilian investment bank BTG Pactual will acquire crypto-friendly brokerage Orama for $98.7 million

ChainCatcher news, according to Cointelegraph, Brazilian investment bank BTG Pactual is acquiring crypto-friendly broker Orama DTVM as part of its strategy to expand its digital banking platform. BTG Pactual has signed an agreement to purchase 100% of Orama for 500 million Brazilian reais (approximately 98.7 million USD), with plans to launch its own stablecoin.

It is reported that Orama was founded in 2011 and manages assets of nearly 18 billion reais (approximately 3.6 billion USD), serving around 360,000 clients. Orama focuses on the distribution of investment funds and fixed income products, while also exploring cryptocurrency investments.