BTG Pactual, Brazil’s fifth largest bank, plans to utilize the Tezos blockchain for security token offerings potentially worth $1 billion.
For the effort, BTG – also Brazil’s largest standalone investment bank – will team with Dubai-based asset manager Dalma Capital.
In a press release published Wednesday, the two firms said they would use the Tezos network for the sale of digital securities to “address a deal pipeline in excess of $1bn for existing and prospective token issuances.”
The deals include the ReitBZ tokenized property offering announced in February, and would further cover a variety of traditional and alternative investments, they noted.
The companies said:
“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.”