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BTG Pactual, the biggest standalone investment bank in Latin America, will partner with Dubai-based asset manager Dalma Capital to use the Tezos blockchain for security token offerings (STOs).
As per a press release, the banks aim to tokenize different conventional and alternative investments using Tezos. After all existing and prospective token issuances are finalized, the banks said the deal will be worth well more than $1 billion.
“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,” Zachary Cefarratti, Dalma Capital CEO, said.
The deals will also reportedly include the ReitBZ STO, which uses an ethereum-based token. As per the press release, it has been successfully launched and passed its soft cap.
Dalma Capital, who is also joint-bookrunner for ReitBZ, plans to use Tezos in various asset tokenization projects, including core real estate and prominent global sports clubs.
“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” Andre Portilho, BTG’s partner who leads the STO initiative, noted.
Blockchain spending is anticipated to reach up to $2.9 billion globally this year and $307 million in the Middle East by 2021. The news release noted that BTG and Dalma Capital’s partnership with Tezos will them enhance their digitization efforts by handling digital asset transactions.
The latest announcement follows after Tezos appointed Roman Schnider, the man behind PricewaterhouseCoopers (PwC) Switzerland’s blockchain and cryptocurrency assurance division, as its new chief financial officer.
