Banco BTG Pactual private bank investment issues tokens on top of Tezos blockchain
By Inkarias - 2020-05-20
Banco BTG Pactual, the largest private investment bank in Latin American has recently announced to issue real estate tokens directly on Tezos official blockchain. For information, the same company had previously released its own ReitBZ tokens on Ethereum blockchain, collecting a total of 10 million dollars in ETH and GUSD.
Multiple solutions and tokens for the future
Andre Portilho, the current head of digital assets for the company, has recently shared that 5 million dollars’ worth of existing ReitBZ will be fully switched to Tezos solution, including an additional 2,5 million dollars raise that occurred directly in fiat currencies. With that new directive, Banco BTG is wishing to keep several options open for the long-term as the cryptocurrency world remains a sector where it is still hard to tell which blockchain will be widely used across the world in the next years. He also added:
“We don’t want to be tied to just one blockchain. Because clearly, I cannot tell which blockchain will prevail. We want to have other options, other blockchains that might serve better the pieces of tokenization and issuing tokens that represent real assets.”
A liquid solution for general adoption in Asia
BTG Pactual thought about working with different service providers like Securitize but finally chose to do the task themselves to learn the ins and outs related to the issuance of digital securities and crypto assets. The Bank is currently working on listing its own security tokens on several exchanges in Asia which is a region offering a high level of liquidity for this kind of assets. As Andre Portilho added, the ultimate goal of the company is to reach the maximum potential clientele for the long-term growth and adoption of these assets.More details about Tezos can be read at https://tezos.com/