• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
BTG Pactual latin america south american brazil
Nexo

Latin America’s Biggest Investment Bank Launches Security Token

Christina Comben by Christina Comben
3 years ago
in News, Altcoins, Blockchain, News teaser
0
Advertisement

Banks once refused to work with blockchain companies in Brazil. Now, BTG Pactual, Latin America’s largest standalone investment bank, is launching a security token of its own.


A Wave of Change in Brazil

There seems to be a wave of change happening in Brazil. Bitcoinist reported just a few days ago that Santander Bank was ordered by a Court to keep open Bitcoin Max’ checking account. Banks that were once hesitant to work with cryptocurrency exchanges are being forced to eat humble pie.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

That marked a small victory for the cryptocurrency space in this part of the world. And now, it seems that financial institutions here are realizing the worth of digital assets within their own portfolios.

Banco BTG Pactual SA Is Leading the Way

Brazil’s Banco BTG Pactual, the largest standalone investment bank in the region, has announced that it will be entering the cryptocurrency space with its own security token, the ReitBZ.

With a plan to raise up to $15 million in its token sale, STO, initial offering, or whatever terminology you prefer, the bank will launch a security token backed by distressed real estate assets in Brazil.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The ReitBZ token will use blockchain technology. And investors will be able to buy it using the Winklevoss twins’ Gemini Dollar or ETH. The token is indisputably a security token since investors will receive dividends periodically from the recovery of the distressed assets.

Hold Up, What Are Distressed Assets?

A distressed asset is one that is put on sale at a reduced price because its owner has been forced to sell it. This may be due to excessive debt, bankruptcy, or regulatory constraints. And it’s especially common when it comes to real estate, a market in which during times of financial crises, people often fail to make their mortgage payments.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Distressed assets are an excellent opportunity to buy into a devalued asset and make gains as the market recovers. They’re not so awesome for the person forced to sell, of course, but this is capitalism, after all.

The BTG distressed real estate assets will be managed by a BTG subsidiary called Enforce. The ReitBZ token will be available worldwide. With the notable exception of the U.S. (surprise, surprise), and Brazil.

Wait, so investors around the world will be able to profit from the rising housing crisis in Brazil–but not the Brazilian people themselves? Right. How’s that for messed up?

BTG, however, assures that once the regulatory landscape clears up in Brazil, the ReitBZ will be open to its country’s citizens and maybe even the United States as well.

The Opportunity for High Yearly Returns

According to the bank, investors can expect yearly returns from these assets between 15-20 percent. Moreover, BTG will be providing market-making services for its token to ensure that investors have sufficient liquidity to sell when they want to.

CTO Gustavo Roxo told Bloomberg:

BTG is deploying its own capital to provide liquidity because it really believes in the crypto business… We came up with this structure because we think investors in the digital world have a higher risk-taking appetite.

By using a crypto asset, BTG can maximize returns from its distressed assets and allow investors to enter the market in a cheaper way. The initial sale period of ReitBZ will last for approximately 90 days and proceeds will be reinvested into the portfolio.

Banks and Cryptocurrencies Starting to Gain Momentum

The announcement comes off the back of the news last week that JPMorgan became the first U.S. bank to launch its own ‘cryptocurrency.’

With CEO Jamie Dimon well-known for ‘Bitcoin bashing’, JPMorgan introducing its own digital coin to accelerate payments was a shock to many in the industry.

However, JPMorgan and BTG are not the only horses in this race. It seems that the banks haven’t been falling asleep at the wheel when it comes to cryptocurrency after all. Japanese Mitsubishi UFJ Financial Group started working on plans for their own token back in 2016. And now Brazil has stepped up to the plate.

BTG’s partner and initiative head of the ReitBZ Andre Portilho said:

We knew we needed to dominate this technology, so we started experimenting with it a few years back… We thought Bitcoin and other currencies were turning too volatile, but we saw an opportunity with this token to try something new–but also with our skin in the game.

The question now isn’t whether other banks will launch their own digital currencies, but rather which ones?

Will more banks follow with their own virtual currency? Share your thoughts below!


Images courtesy of Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christina Comben

Christina Comben

Related Posts

Elon Musk

Elon Musk To Twitter: Let’s Do A Public Debate On Bots!

2 days ago
Vitalik Buterin

Ethereum Founder Vitalik Buterin Just Dumped 25 Trillion Tokens From This Project

5 days ago
altcoins

How Summer Is Turning Into A Short-Lived Altcoin Season

6 days ago
Monero (XMR)

Impending Closure Of Monero Largest Mining Pool Sparks Decentralization Debate

1 week ago
Filecoin

Here’s Why Filecoin (FIL) Is Trending With Double-Digit Gains

1 week ago
Barcelona

Barcelona FC And Socios.com Sign $100 Million Deal For Web3 Push

1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.