Latin America’s Largest Investment Bank Boosts Tezos with 1Bn STO
Matthew Lam Jul 05, 2019 09:00
Banco BTG Pactual S.A. (BTG Pactual), the largest investment bank in Latin America, plans to conduct a deal pipeline of over $1 bn security token offerings (STO) onto the Tezos blockchain. The announcement was revealed by the joint press release published on the website of Tezos Foundation on 3 July.
Banco BTG Pactual S.A. (BTG Pactual), the largest investment bank in Latin America, plans to conduct a deal pipeline of over $1 bn security token offerings (STO) onto the Tezos blockchain. The announcement was revealed by the joint press release published on the website of Tezos Foundation on 3 July.
This STO plan is a partnership between BTG Pactual and Dalma Capital, the asset manager based in Dubai. According to the press release, Tezos blockchain will be the new platform for digital securities transactions including the ongoing REITBZ STO and tokenization of a number of traditional and alternative investments in future.
As a fan of Tezos, Tim Draper, CEO and Founder of Draper Associates is optimistic on the move by BTC Pactual. He 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.”
It is noteworthy that blockchain is gaining wide adoption in Latin America. While blockchain spending is estimated to reach $2.9 bn this year, and $307 mn in MEA region by 2021! Zachary Cefaratti, CEO of Dalma Capital, commented on the huge potential of STO market “The addressable market for security tokenization is in excess of $268 trillion, which is composed of the global stock of investable financial assets. This is the next iterative step in the pervasion of blockchain in finance, we see future development in addressing the $595 trillion global derivatives market on blockchain.”
Thumbnail image credit: Shutterstock
Image source: Shutterstock.jpg)