Blockchain project Tezos Foundation announced last week that Banco BTG Pactual S.A., Latin America’s largest standalone investment bank, together with Dalma Capital, a prominent Dubai asset manager, will be using its platform for Security Token Offerings (STOs), including the ongoing REITBZ STO.
Tezos reported that by utilizing the new platform for digital securities transactions, the financial institutions address a deal pipeline in excess of $1bn for existing and prospective token issuances, with an outlook to utilize its platform to tokenize a wide variety of traditional and alternative investments.
“As governments worldwide and in the Middle East take measures to introduce digitization initiatives across industries, blockchain spending globally is to reach $2.9 billion this year, and $307 million in MEA region by 2021. 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.”
Tezos also revealed that BTG Pactual was the first major investment bank to officially launch a Security Token Offering (STO) when it announced in February its plans to launch ReiBZ. The banking group has since successfully launched and exceeded the soft cap of the real estate backed token on the Ethereum protocol. Andre Portilho, BTG’s Partner responsible for the STO initiative, stated:
“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.”
Zachary Cefaratti, CEO of Dalma Capital, also commented:
“With blockchain technology now becoming a reality globally, we are delighted to be working with the Tezos Foundation and Tocqueville Group teams, whose technical expertise compliments our investment banking and asset management credentials. 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.”
Tim Draper, CEO and Founder of Draper Associates, a prominent Tezos stakeholder and advocate of blockchain in finance, added:
“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.”
