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Laxman Pai, Opalesque Asia: Latin America's the third biggest investment bank Banco BTG Pactual SA has teamed up with Dubai asset manager Dalma Capital to sell more than $1 billion worth of so-called security tokens.
The financial institutions plan to utilize the Tezos blockchain for Security Token Offerings (STOs), including the ongoing REITBZ STO.
"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 Tezos to tokenize a wide variety of traditional and alternative investments," said a press release from Latin America's largest standalone investment bank.
As governments worldwide and in the Middle East take measures to introduce digitization initiatives across industries, blockchain spending globally is to reach $2.9bn this year, and $307m 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.
BTG Pactual was the first major investment bank to officially launch a STO when it announced in February its plans to launch ReiBZ. It has since successfully launched and exceeded the soft cap of the real estate backed token on the Ethereum protocol.
"While the bank remains protocol and technology agnostic, and will continue to ...................... To view our full article Click here
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