In a joint announcement posted on July 3, BTG Pactual, one of the largest Latin American banks and certainly the most significant investment bank in Brazil, is preparing to offer a $ 1 billion (STOs) offer of security tokens which will be available at Tezos blockchain, and in a partnership with one business entity from Dubai. Two companies have announced that the new collaboration implies the utilization of Tezos network for the sale of digital securities as a solution for contracts that exceed $ 1 billion for existing and potential tokens.
BTG Pactual Brazil & Dalma Capital Dubai
The largest investment bank in Brazil will join this business venture with the asset manager, Dalma Capital, headquartered in Dubai.
BTG Pactual and Dalma Capital are planning to tokenize a series of traditional assets using Tezos blockchain and smart contracts.
According to the announcement, Dubai partner has a plan to carry out the digitization of assets in several different industries using Tezos blockchain technology. The target group is the real estate industry, capital, borrowing, as well as the digitization of property on blockchain for major global sports clubs.
The deals include the ReitBZ tokenized property offer announced in February. BTG Pactual intends to increase its expertise in tokenization, which provides for Liquid ReitBZ (RBZ) STO, based on Ethereum (ETH) blockchain. It is also supported by immovable property in Brazil with the idea of allowing the bank to provide real estate services to international investors at significantly lower prices than traditional methods.
Tezos as an additional global player for BTG Pactual
The BTG Pactual’s employee, responsible for the STO project, Andre Portillo, said the bank will remain agnostic of technology and will continue to use the Ethereum protocol. More, he explained that the company sees Theos as a global player with a robust blockchain for property tokenization.
A partner from the East estimates that Tezos is a cliche market player for the STO market that is developing and is pleased to participate in securing the future flow of activities based on the Tezos block, said CEO Dalma Capital of Dubai, Zachary Cefaratti.
Support for the initiative to the Brazilian bank comes from Tim Draper, the initial Tezos investor. He encouraged BTG Pactual and Dalma Capital in his press release, expressing the belief and positive attitude that Tezos has a strong case of using security tokens.
Hard Fork on Tezos blockchain
Tezos community expresses some concern over the hard fork that is allegedly to occur. Currently, Tezos (KSTZ) is the 21st largest cryptocurrency by market capitalization, with a roughly estimated value of $ 830 million, according to sources.