Topic: Latin America’s Biggest Bank To Release Security Token (Read 255 times)

Exchanging property for bitcoin is never easy, if the bank will help in the process, I think it would be great news. I believe with the help of bank, the process would be much smoother. Are we going to see more and more bitcoin-property deal in the near term?

https://www.21cryptos.com/latin-americas-biggest-bank-to-release-security-token/

Banco BTG Pactual SA, Latin America’s largest investment bank, are planning on releasing their own security token, named ReitBZ. The Brazil-based bank is aiming to raise $15 million through an initial coin offering (ICO). The bank will back the value of the token with distressed Brazilian real estate assets, investors will receive periodic profits based on real estate performance.

ReitBZ  is the first security token backed by Brazilian real estate and managed by a large and established investment bank. Real estate in Brazil has had a difficult few years after a period of economic downturn but is reportedly now a “flourishing market” and the best time to invest in it is now.  Research has shown that approximately 12,000 residences were sold in the city of Sao Paulo in the first half of 2018 – an increase in sales of 52% as against the first half of 2017 and is the best period for property sales since the country’s economic crisis began in 2013.

The token will enable the bank to offer its real estate business to global investors at reduced costs, something it was unable to do traditionally.

Roberto Sallouti, CEO and member of the Board of Directors of BTG Pactual, said: “The technology associated with this offering allows us to be a pioneer in providing access to asset classes that have historically been difficult for global retail investors to access. We are constantly exploring innovative ways to promote, democratize and encourage the development of financial and capital markets”.€�

Investors will be able to buy ReitBZ via a special platform by using the Gemini Dollar (GUSD) stablecoin or Ethereum (ETH). Investors will “receive periodical dividends from the recovery of the distressed assets, which will be handled by a BTG-owned company called Enforce”. The investments will not be hedged.

With the rise of cryptocurrency and blockchain technology, banks across the world are adapting and adopting. Japanese banking giant Mizuho Financial Group, will also launch its own digital currency service, a new cashless payment system, known as J-Coin Pay on March 1.You can read the ReitBZ white paper here.


Is this the start of banks creating tokens?   ICO 

And they are just riding the hype that cryptocurrencies and ICOs made to make their stale systems look fresh and make the public invest on them. Basically they are just publicly offering one of their investment plans and just took the word ICO with them just to make their scheme appealing to the public and that many would buy in to the said plan. Also, they like to expand globally and offer the said investment plan to other people on different countries, and going ICO is what enables them to do this sans the legal hoops and challenges they might face along the way.

It is not a security token if they are launching an ICO, which is meant for utility tokens. They would be doing an equity distribution, or an STO, Security Token Offering.
This would act as a sort of publicity, and I do not think there is any negative to the report. Also I do not think it would have much of an impact as at yet, as more industries and sectors adopt cryptocurrency, we could haveass adoption.

So this is what the government's after the implementation of Security Token Offerings, what an interesting move by the way. Scammer will really get hard trying to scam anymore since there are securities implemented and common Security Tokens are from banks.

Banco BTG Pactual SA, Latin America’s largest investment bank, are planning on releasing their own security token, named ReitBZ. The Brazil-based bank is aiming to raise $15 million through an initial coin offering (ICO).

What do they mean exactly by "distressed" assets? Does that mean foreclosures and things like that?

It's an interesting thing to see but not a particularly welcome sight. The ICO is just a gimmick so the bank can raise additional capital to gamble on the real estate market and pocket administrative fees for running the fund.

In other words, it's just bankers being bankers. It's probably a sign of things to come.

I hope that indeed some banks will immediately conduct an ICO and create a token so that the crypto currency can become the currency that we keep in a real bank.

very interesting information, but actually this is not something that I just saw is a system similar to the system they run on banks using FIAT currency, which is different is the new concept uses crypto currency.
I hope that indeed some banks will immediately conduct an ICO and create a token so that the crypto currency can become the currency that we keep in a real bank.

https://www.21cryptos.com/latin-americas-biggest-bank-to-release-security-token/

Banco BTG Pactual SA, Latin America’s largest investment bank, are planning on releasing their own security token, named ReitBZ. The Brazil-based bank is aiming to raise $15 million through an initial coin offering (ICO). The bank will back the value of the token with distressed Brazilian real estate assets, investors will receive periodic profits based on real estate performance.

ReitBZ  is the first security token backed by Brazilian real estate and managed by a large and established investment bank. Real estate in Brazil has had a difficult few years after a period of economic downturn but is reportedly now a “flourishing market” and the best time to invest in it is now.  Research has shown that approximately 12,000 residences were sold in the city of Sao Paulo in the first half of 2018 – an increase in sales of 52% as against the first half of 2017 and is the best period for property sales since the country’s economic crisis began in 2013.

The token will enable the bank to offer its real estate business to global investors at reduced costs, something it was unable to do traditionally.

Roberto Sallouti, CEO and member of the Board of Directors of BTG Pactual, said: “The technology associated with this offering allows us to be a pioneer in providing access to asset classes that have historically been difficult for global retail investors to access. We are constantly exploring innovative ways to promote, democratize and encourage the development of financial and capital markets”.€�

Investors will be able to buy ReitBZ via a special platform by using the Gemini Dollar (GUSD) stablecoin or Ethereum (ETH). Investors will “receive periodical dividends from the recovery of the distressed assets, which will be handled by a BTG-owned company called Enforce”. The investments will not be hedged.

With the rise of cryptocurrency and blockchain technology, banks across the world are adapting and adopting. Japanese banking giant Mizuho Financial Group, will also launch its own digital currency service, a new cashless payment system, known as J-Coin Pay on March 1.You can read the ReitBZ white paper here.


Is this the start of banks creating tokens?   ICO 

Banco BTG Pactual SA, Latin America’s largest investment bank, are planning on releasing their own security token, named ReitBZ. The Brazil-based bank is aiming to raise $15 million through an initial coin offering (ICO). The bank will back the value of the token with distressed Brazilian real estate assets, investors will receive periodic profits based on real estate performance.