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The foremost private investment bank in Latin America, Banco BTG Pactual is transferring some of its real estate-backed security tokens on Tezos blockchain.
Notably, the security tokens denote investment in real estate on the Tezos blockchain. Earlier, the bank had issued its ReitBZ tokens on the Ethereum blockchain. During the process, it raised ten million USD in terms of Ethereum and GUSD.
The head of virtual assets at BTG Pactual, Andre Portilho mentions that five million USD worth of ReitBZ will be transferred to Tezos blockchain. This includes two and a half million USD raise that was done in fiat currency.
Portilho says,
“We don’t want to be tied to just one blockchain. Because clearly I cannot tell which blockchain 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.”
Presently, the bank is trying to get its security tokens listed on new cryptocurrency exchanges in Asia. This is because liquidity for this kind of cryptocurrencies remains its shortcoming.
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