BTSE Launches BRZ as Brazilian Digital Token
We are pleased to announce that BTSE will list BRZ token beginning Wednesday October 14th, 2020
The Swiss Brazilian company Transfero has made constant and crucial efforts to grow its stablecoin. Launched in 2019, the Brazilian Digital Token, known as BRZ, in the last three months had a traded volume of 675 million tokens approximately in one of the several international exchanges where the token is listed. Today, BTSE is announcing that BRZ will be listed on the BTSE exchange platform.
With this addition, the BTSE exchange continues to be a front runner and elite exchange offering a total of 88 derivatives pairs and 19 spot options. These offerings along with the Brazilian Digital Token have BSTE ranked one of the top 10 derivative exchanges according to CoinGecko.
The token is built on top of the Ethereum blockchain. It gives all Brazilians an option to hedge their savings to crypto and protect their assets from the Brazilian Real devaluation. It also allows users to access international crypto platforms opening more possibilities to new investments in the global market.
Earlier this year, it was reported that most of Brazil’s representation in the crypto markets are a result of them holding on to stable coins like Tether and BUSD. BSTE is making it clear that there is a market for BRZ to be held and/or exchanged to better their specific needs in the crypto space. This listing is another great addition to the BTSE lineup as within the past month the exchange has made several strategic moves that benefit exchange users - listings such as the DeFi Index for perpetuals and spot trading of the Ferrum Network's FRM coin.
The BRZ token is able to accomplish its stability by being strictly pegged by the Real which derives its value by the traditional market. The BRZ Reserve Managers are able to keep custody of all the functionality of the token, including the maintenance and transparency of the reserves that help peg the token on the crypto side.
Using BRZ not only gives you the ability to buy, sell, and deposit the tokens to the BTSE exchange, but also allows you to enter the international crypto market without the need to be immediately exposed to volatility that is often shown in cryptocurrencies.
The token also allows you to be given access to the Brazilian focused markets and gives international investors the ability to hedge their funds in a way that’s local to Brazil. In addition, BRZ has a special smart contact system for issuing and burning tokens that are verified by the crypto company PARSIQ.
Deposits and withdrawal will go live October 14th, 2020 at 3pm UTC and trading will begin shortly after.
Our aim is to create a platform that offers you the most enjoyable trading experience. If you have questions or suggestions, please don’t hesitate to reach out to us at firstname.lastname@example.org or DM us on Twitter: @BTSEcom.