Brazilian Bank plans to use Tezos Blockchain for STOs

The Tezos Foundation yesterday announced that Banco BTG Pactual S.A., Latin America’s largest standalone investment bank, together with Dalma Capital, a prominent Dubai asset manager plans to utilize the Tezos blockchain for Security Token Offerings with a deal pipeline in excess of $1bn.

In February, BTG Pactual was the first major investment bank to officially launch a Security Token Offering with ReitBZ a real estate backed token.  The offering successfully exceeded its soft cap target using Ethereum.

“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, BTG’s Partner responsible for the STO initiative.

Ethereum has been the blockchain of choice for majority of STOs issued to date, so this announcement positions Tezos as an alternative blockchain for issuers.

“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 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.”

Share

Stay on top of the STO market!

Close

Subscribe to our newsletter