Brazilian Bank Plans to Use Tezos Blockchain for STOs Worth $1 Billion

News


BTG Pactual, Brazil’s fifth largest bank, plans to utilize the Tezos blockchain for security token offerings potentially worth $1 billion.

For the effort, BTG – also Brazil’s largest standalone investment bank – will team with Dubai-based asset manager Dalma Capital.

In a press release published Wednesday, the two firms said they would use the Tezos network for the sale of digital securities to “address a deal pipeline in excess of $1bn for existing and prospective token issuances.”

The deals include the ReitBZ tokenized property offering announced in February, and would further cover a variety of traditional and alternative investments, they noted.

The companies said:

“Utilizing Tezos, a self-amending blockchain and smart contracts platform will encourage BTG Pactual and Dalma Capital to enhance their digitization efforts, by transacting in digital assets.”

Since the announcement earlier this year, the ReitBZ STO, which uses an ethereum-based token, has launched and passed its soft cap, according to the release.

“While the bank remains protocol and technology agnostic, and will continue to utilize the Ethereum protocol, we see Tezos as a global player with a robust blockchain for asset tokenization” said Andre Portilho, a BTG partner who heads the STO initiative.

Dalma Capital has joined the effort as joint bookrunner (or underwriter) for ReitBZ, and further expects to use Tezos for a number of other asset tokenization projects, from real estate to sports clubs.

“We see Tezos as one of the critical protocols for the burgeoning STO market, and look forward to securing future deal flow on the Tezos blockchain,” said Zachary Cefaratti, Dalma Capital CEO.

Tim Draper, CEO and founder of Draper Associates, which holds a stake in Tezos, said “We are excited to see BTG Pactual and Dalma Capital making use of the Tezos blockchain – we are believers in the Tezos project and see a strong use case for security tokens.”

Tezos image via Shutterstock



Source link

Infolinks.com, 3210366 , DIRECT rubiconproject.com, 20322, RESELLER, 0bfd66d529a55807 google.com, pub-6373315980741255, RESELLER, f08c47fec0942fa0 google.com, pub-4299156005397946, RESELLER, f08c47fec0942fa0 Adtech.com, 11409, RESELLER appnexus.com, 3251, RESELLER Pubmatic.com, 60809,RESELLER,5d62403b186f2ace Pubmatic.com, 158270, RESELLER,5d62403b186f2ace sovrn.com, 268479, DIRECT, fafdf38b16bf6b2b lijit.com, 268479, DIRECT, fafdf38b16bf6b2b lijit.com, 268479-eb, DIRECT, fafdf38b16bf6b2b aol.com, 6202, RESELLER aol.com, 17744, RESELLER lkqd.net, 295, RESELLER, 59c49fa9598a0117 lkqd.com, 295, RESELLER, 59c49fa9598a0117 Freewheel.tv, 482337, RESELLER Freewheel.tv, 480609, RESELLER appnexus.com, 7666, RESELLER, f5ab79cb980f11d1 rubiconproject.com, 156042, RESELLER, 0bfd66d529a55807 pubmatic.com, 156872, RESELLER, 5d62403b186f2ace Rubiconproject.com, 20848, RESELLER, 0bfd66d529a55807 contextweb.com, 559988, RESELLER, 89ff185a4c4e857c rhythmone.com, 2221906906,DIRECT,a670c89d4a324e47 districtm.io, 101519, RESELLER indexexchange.com, 175407, RESELLER 33across.com, 0010b00002CpYhEAAV, RESELLER, bbea06d9c4d2853c rubiconproject.com, 16414, RESELLER, 0bfd66d529a55807 pubmatic.com, 156423, RESELLER, 5d62403b186f2ace rhythmone.com, 2439829435, RESELLER, a670c89d4a324e47 indexexchange.com, 185506, RESELLER Smartadserver.com,3238,RESELLER contextweb.com,560288,RESELLER,89ff185a4c4e857c pubmatic.com,156439,RESELLER pubmatic.com, 154037,RESELLER rubiconproject.com,16114,RESELLER, 0bfd66d529a55807 openx.com,537149888,RESELLER,6a698e2ec38604c6 sovrn.com, 257611,RESELLER, fafdf38b16bf6b2b appnexus.com,3703,RESELLER,f5ab79cb980f11d1 EMXDGT.com, 68, RESELLER, 1e1d41537f7cad7f rubiconproject.com, 17262, RESELLER, 0bfd66d529a55807 indexexchange.com, 184311, RESELLER gumgum.com,13318,RESELLER,ffdef49475d318a9 adtech.com,12094,RESELLER google.com, pub-5617098146054077, RESELLER, f08c47fec0942fa0 spotx.tv, 74964, RESELLER, 7842df1d2fe2db34 openx.com, 540362347, RESELLER, 6a698e2ec38604c6 advertising.com, 24831, RESELLER appnexus.com, 10736, RESELLER

Leave a Reply

Your email address will not be published. Required fields are marked *

3 × one =