According to the press release by a blockchain group Tezos Foundation, it is planning to collaborate with two entities, namely BTG Pactual, and a Dubai based assets manager Dalma Capital, in a Security Token Offerings (STO) deal worth one billion dollars. Moreover, both financial companies also plan to employ Tezos blockchain to tokenize a wide range of investment solutions.
The BTG Pactual is a Brazilian financial services firm; it is the largest bank in South America in terms of investment banking. Other services of the financial company include the management and planning of wealth and assets, advisory services related to acquisition and merger, finances and loans, market analyses, and investment solutions.
After multiple delays, in June 2018 the blockchain group Tezos eventually launched its blockchain “betanet” following its two hundred and thirty-two million dollars of Initial Coin Offering (ICO) in July 2017. The delays were caused mainly due to the conflict between the founders Kathleen and Arthur and Johann Gevers the former Tezos Foundation President over the control on the blockchain platform. The platform still had to wait to officially launch the betanet, even after Gevers left the office in February 2018, because of the regulatory checks.
BTG Pactual and Dalma Capital stated that they both are looking forward to availing themselves of the opportunities that are provided by the governments by initiating the digitization initiatives that are likely to uplift the spending of the global government blockchain at about a little more than two ($2.9) billion dollars this year.
The Partner responsible for the BTG Pactual’s STO initiative Andre Portilho stated the investment bank’s motive for deciding to launch its initiative on Tezos platform and said that as Tezos is a self-modifying platform and utilizing it will enhance the digitization efforts by the Dalma and BTG Pactual by the transaction of digital assets.
The Chief Executive of Dalma Capital Zachary Cefaratti in this regard stated that the Tezos Foundation is a critical protocol in terms of burgeoning the STO market. He further stated that his company is looking forward to securing deal flow in the future with Tezos.