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Tezos Foundation Bags $1 Billion STO Deal with Major Financial Institutions


In a blog post published on July 3, 2019, community-driven blockchain project Tezos announced that it had secured a business partnership with Latin America’s largest standalone investment bank, Banco BTG Pactual S.A. and Dubai-based asset manager Dalma Capital.

The two entities will reportedly use the Tezos Foundation’s blockchain for security token offerings (STOs).

The Tezos Foundation Scores Big

Tezos, a self-amending blockchain and smart contract platform, is set to develop an STO platform for BTG Pactual and Dalma Capital. According to the official press release, the two financial juggernauts are mulling utilizing Tezos’ blockchain to materialize business deals worth more than $1 billion by tokenizing a wide array of traditional and alternative investment products.

Citing data from International Data Corporation (IDC), the release posits that global expenditure on blockchain solutions will be nearly $2.9 billion in 2019, a staggering jump of 88.7 percent from the $1.5 billion spent in 2018.

The rapidly increasing tokenization of financial products was one of the key factors that encouraged BTG Pactual and Dalma Capital to ramp up their digitization efforts.

Notably, the partnership will aid BTG Pactual with its ReitBZ (RBZ) STO announced earlier in the year in February. For the uninitiated, the ReitBZ STO saw the issuance of real estate-backed tokens based on the Ethereum protocol and exceeded its soft cap shortly after its launch.

Commenting on the utility of the Tezos blockchain for the investment bank’s long-term tokenization plans, Andre Portilho, BTG’s partner responsible for ReitBZ, said:

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.

In the same vein, Dalma Capital, the joint-bookrunner for ReitBZ, stated that it has plans to further utilize Tezos for a slew of asset tokenization projects comprising of entities from core real estate to famous global sports clubs.

Zachary Cefaratti, CEO of Dalma Capital, said:

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.

BTCManager reported on June 13, 2019, how Tezos Foundation had hired PwC blockchain expert Roman Schnider as its new CFO.

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