BTG Pactual, one of Latin America’s largest investment banks, has announced the launch of the world’s first dollar-backed stablecoin issued by a bank. The stablecoin, called BTG Dol, is available for purchase starting from 100 real ($20) in the bank’s crypto app Mynt.

Stablecoins are digital currencies that are pegged to traditional financial assets, usually the U.S. dollar. They provide investors and traders with a more stable alternative to volatile cryptocurrencies such as bitcoin and ether.

The market capitalization of stablecoins currently stands at around $133 billion with a 24-hour trading volume of nearly $39 billion, according to data by CoinMarketCap.

BTG Pactual’s stablecoin offering allows clients to “dollarize part of their equity in a simple, efficient, and secure manner,” according to the bank. The stablecoin is being launched through Mynt, the bank’s crypto platform, which now supports 22 cryptocurrencies.

The launch of BTG Dol marks a significant milestone in the cryptocurrency industry, as it is the first time a bank has issued a dollar-backed stablecoin. This sets a new standard for stablecoin issuance and could pave the way for more banks to enter the stablecoin market.

The largest stablecoins in the market, such as USDT and USDC, are issued by private companies and have been subject to increasing regulatory scrutiny in recent times. BTG Pactual’s stablecoin offering, being issued by a bank, could potentially enjoy a more favorable regulatory environment.