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Tezos (XTZ) Announces Partnership with Latin America’s largest investment bank to tokenize $1bn of digital assets



Tezos (XTZ) Announces Partnership with Latin America's largest investment bank to tokenize $1bn of digital assets
Source: Twitter (Tocqueville Group)

Tezos Foundation on July 3, 2019, published a press release, stating that it has signed a deal of $1bn with BTG Pactual And Dalma Capital to utilize Tezos Blockchain for Security Token Offerings (STOs).

Banco BTG Pactual S.A. is Latin America’s largest standalone investment bank while Dalma Capital is a prominent Dubai asset manager. As per the blog post, they plan to utilize the Tezos blockchain for Security Token Offerings (STOs), including the ongoing REITBZ STO.

Tocqueville Group tweets about the partnerships through a tweet which later on retweeted by Tezos.

According to the blog post, “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”.

Andre Portilho, BTG’s Partner responsible for the STO initiative 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”.

While Tim Draper 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”. Tim Draper is the CEO and Founder of Draper Associates which is a prominent Tezos stakeholder.

Tezos (XTZ) Price Jumps soon after the announcement

Soon after the announcement the price of Tezos (XTZ) jumps and reaches to $1.29 USD while at the press time it is trading at $1.19 USD (6.47%). The market capitalization of XTZ at press time is $784,093,815 USD as per CoinMarketCap.

Tezos (XTZ) Price Analysis
Source: CoinMarketCap

The all-time-high for Tezos (XTZ) was $12.19 USD on Dec 17, 2017, while the all-time-low was $0.314631 USD on Dec 07, 2018.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.