$35.4B Investment Bank in Latin American Issues Tokenized Real Estate on Tezos Blockchain

While initially costly, the digitalised version brings with it plenty of long-term advantages.

Banco BTG Pactual, the largest private investment bank in Latin America, has started to issue tokenized real estate security tokens on the Tezos blockchain.

However, this won't be the first occasion when the investment bank has made use of blockchain to issue security tokens for real estate, earlier the bank has launched ReitBZ token on the Ethereum blockchain. The ReitBZ token project raised $10 million in Ether and Gemini Dollar.

The bank revealed that they have managed to raise $2.5 million in fiat for the Tezos project and $5 million worth of the ReitBZ tokens will be moved to Tezos as well.

The largest investment bank in Latin America also revealed the reason behind moving its real estate backed security tokens from Ethereum to Tezos suggesting they are keeping their options open and diversification of the tokens on two different blockchains would help them in the long run. Andre Portilho, head of digital assets at BTG Pactual commented on the move:

“We don't want to be tied to just one blockchain. Because I cannot tell which blockchain will prevail. <…> We want to have other options, other blockchains that might serve better the pieces of tokenization and issuing tokens that represent real assets.”

Issuing Digitized Token For Assets Come At a Cost But With Added Advantages

Portilho revealed that issuing a digitized asset surely turned out to be costlier than its traditional counterparts. However, he was quick to point out that a digitized version has added advantages, which would cover the cost in the long run.

He claimed that issuing $10 billion worth of tokenized security would cost the same as issuing $10 million worth of the same tokenized assets. Tokenization also paves the path for scalability.

The Latin American Bank earlier considered taking help from service providers like Securitize but later decided to do it themselves to comprehensively understand the process of digitization of assets and how the tokenization process works. The bank believes this would help them in reaching their potential clients.

BTG Pactual is also working on listing their security tokens on new and upcoming exchanges in Asia. Their primary focus would be to offer adequate liquidity to the clients overtime to lure more investors and clients in the tokenization arena.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

James W
James is a cryptocurrency enthusiast, an advocate for the development and exposure of blockchain technology, and believes in the use of digital assets for the good of the society. Enthralled by the huge potential of cryptocurrencies and their underlying technology – blockchain – James dedicated himself to learn more about the industry, becoming a highly sought-after writer in the sector. He covers news, white papers and any content related to cryptocurrency and blockchain in general.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

DeFi App Aave Creates First Credit Delegation Loan to DeversiFi Decentralized Exchange

DeFi lending platform, Aave completes its first-ever ‘credit delegation’ as DeversiFi borrows over $230,000 without posting collateral. The service agreement was signed on...

Bitcoin Futures Trading at a High Premium; Already Hitting $12,000 on CME

Bitcoin has yet again gained momentum, with people expecting for $12k to hit soon. According to analyst Mati Greenspan, for a sustainable rally, a...

Polkadot (DOT) Launches The First Parachain Implementation Testnet, Rococo

Polkadot introduces parachain functionality with Rococo testnet, a Proof of Authority (PoA) network, allowing users to send direct messages to the Relay Chain and...

Bitcoin Self-Custody Provider Casa Now Allows Users to Buy BTC via Apple Pay

Bitcoin self custody service provider, Casa now allows its customers to buy and hold their own bitcoin. Selling BTC is not supported yet. According...

Four Top Chinese State-Owned Banks Are Testing The Chinese Digital Yuan Project (DCEP)

In an unconfirmed report, four Chinese state-owned banks are gradually testing the ‘digital renminbi’ wallet app and Digital Currency/Electronic Payment (DCEP) system in different...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today