One of the top 10 Brazilian banks, Banco BTG Pactual S.A. in cooperation with Dalma Capital, a Dubai asset manager, announced plans to utilize the Tezos blockchain for Security Token Offerings (STOs), according to an official press release.
It's expected that with Tezos' technology, the financial institutions address a deal pipeline in excess of $1 billion for existing and prospective token issuances.
BTG’s Partner responsible for the STO initiative. Andre Portilho, says that while the bank will continue to utilize the Ethereum protocol, it sees Tezos as "a global player with a robust blockchain for asset tokenization."
The well-known crypto supporter Tim Draper says he's 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," Draper added.
Earlier iHodl reported that the International Monetary Fund revealed a survey according to which central bank digital currencies (CBDC) could become a reality. The survey carried out by IMF reveals wide-ranging views of countries on central bank digital currencies.
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