The esteemed financial institutions to host a deal
pipeline of $1bn for existing and
future prospective token issuances
SAO PAULO, July 3, 2019 /PRNewswire/ -- Banco BTG
Pactual S.A., Latin America's
largest standalone investment bank, together with Dalma Capital, a
prominent Dubai asset manager,
announced today plans to utilize the Tezos blockchain for Security
Token Offerings (STOs), including the ongoing REITBZ STO. By
utilizing the new platform for digital securities
transactions, the financial institutions address a deal
pipeline in excess of $1bn for
existing and prospective token issuances – with an outlook to
utilize Tezos to tokenize a wide variety of traditional and
alternative investments.
As governments worldwide and in the Middle East take measures to introduce
digitization initiatives across industries, blockchain spending
globally is to reach $2.9 billion
this year, and $307 million in MEA
region by 2021.* 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.
BTG Pactual was the first major investment bank to officially
launch a Security Token Offering (STO) when it announced in
February its plans to launch ReiBZ. It has since successfully
launched and exceeded the soft cap of the real estate backed token
on the Ethereum protocol.
"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,"
said Andre Portilho, BTG's Partner
responsible for the STO initiative.
Dalma Capital, which is working with BTG Pactual on their STO
pipeline and has partnered as joint-bookrunner for REITBZ, plans to
further utilize Tezos for a number of expected asset tokenization
projects ranging from core real estate to prominent global sports
clubs; including equity and debt interests.
"With blockchain technology now becoming a reality globally, we
are delighted to be working with the Tezos Foundation and
Tocqueville Group teams, whose technical expertise compliments
our investment banking and asset management credentials," said
Zachary Cefaratti, CEO of Dalma
Capital, "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."
"BTG Pactual and Dalma Capital have been leaders in implementing
tokenization and blockchain solutions in the realm of traditional
investment banking and asset management," commented Hubertus Thonhauser, a principal of the Tezos
Foundation. "We are encouraged by forward-thinking investment banks
embracing blockchain as the market progresses to
institutionalization and mass adoption."
Tim Draper, CEO and Founder of
Draper Associates, a prominent Tezos stakeholder and advocate of
blockchain in finance said, "We are excited to see BTG Pactual and
Dalma Capital making use of the Tezos blockchain – we are believers
in the Tezos project and see a strong use case for security
tokens."
Zachary Cefaratti elaborated
further, "The addressable market for security tokenization is in
excess of $268 trillion**, which is
composed of the global stock of investable financial assets. This
is the next iterative step in the pervasion of blockchain in
finance, we see future development in addressing the $595 trillion*** global derivatives market on
blockchain."
Sources: BTG Pactual, Dalma Capital, Tezos
Foundation
*Source: IDC report on Worldwide Blockchain
spending
**Sources: IFC, Credit Suisse, PwC and
DFI Reports
***Source: Bank for International
Settlements
About Dalma Capital - Dalma Capital is a
global alternative investment fund accelerator and platform focused
on alpha generating strategies with an inherent edge in emerging
investment strategies and markets. Dalma's edge also extends to
investment banking opportunities in innovative products including
disruptive technologies, blockchain investments and Sukuk.
Established in 2011 and headquartered in the Dubai International
Finance Centre, Dalma Capital's goal is to identify the next
generation of alpha generating 'edge' fund managers, strategies and
opportunities.
About Tezos - Tezos is a blockchain that
evolves by upgrading itself. Stakeholders vote on amendments to the
protocol to reach social consensus on proposals, creating a secure
and organic upgrading system. The protocol's on chain governance
system, Proof-of-Stake (PoS), and ability to facilitate formal
verification, make Tezos an ideal long-term solution for
digital transactions, including smart contracts and security token
offerings. Tezos is fully decentralized and it is the
role of the Tezos Foundation to support the development
and long-term success of the protocol and ecosystem. For more
information, please visit: https://tezos.foundation/
About BTG Pactual - BTG Pactual is the
largest investment bank in Latin
America. It operates in Investment Banking, Corporate
Lending, Sales & Trading, Wealth Management and Asset
Management. Since its creation in 1983, BTG Pactual has been
managed under a meritocratic partnership model. The Bank currently
has 2,284 employees. For more information, please visit
http://www.btgpactual.com
Contacts:
Dalma Capital: IB@dalmacapital.com
Tezos
Foundation: jzupsic@tuskstrategies.com
BTG
Pactual: btgpactual@fsb.com.br +55 11 3165 9621