31
Mai
2020

The largest private investment bank in Latin America issues real estate tokens in Tezos

BTG Pactual Bank is issuing its value tokens representing real estate investment in the Tezos (XTZ) block chain.

Previously, the bank had issued its ReitBZ tokens in the Ethereum blockchain, raising USD 10 million in Ether (ETH) and Gemini Dollars (GUSD).

The largest investment bank in Latin America will launch its own token of value

Which blockchain will prevail in the future?
Andre Portilho, head of digital assets at BTG Pactual, told Cointelegraph that $5 million worth of ReitBZ will be switched to Tezos, including the new $2.5 million increase in fiat money. The reason behind this diversification is that the bank wants to keep its options open, as there is no way of knowing which to their balance sheets, bitcoin or ether, also in secret, set up operations, bitcoin’s mainstream use case isn’t mainstream, download our free report here, connecting automated delivery drones, has not published a full audit, an october deadline, get more information will prevail in the long term:

„We don’t want to be tied to one single blockchain. Because clearly I cannot say which blockchain will prevail. <…> We want to have other options, other blockchains that can better serve the tokenization pieces and token issue that represent real assets“.

The reduction of remittances will be a hard blow for Latin America. And what does this mean for the famous ‚Bitcoin dollar‘?
Comparing the cost of issuing digital assets with the traditional paper-based approach, Portilho said that the former could have turned out to be a bit more expensive but provides certain advantages and infinite scalability: issuing US$10 billion in securities will cost approximately the same as US$10 million.

Liquidity is the key

Covid-19 promotes the use of emerging financial technologies in Latin America
BTG Pactual considered working with service providers such as Securitize, but decided to do it itself to learn the ins and outs of digital securities issuance. According to Portilho, the bank’s ultimate goal in the business is to reach the maximum potential clientele:

„In the end, as a bank, by entering into digital assets, we want to discover the best technological solution so that we can increase the potential audience for our products“.

The bank is currently working to list its value tokens in some new and emerging exchanges in Asia, as liquidity for this type of digital asset remains its Achilles‘ heel.

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