March 1, 2019
BTG token, the first STO project made it by a financial institution.
Wuzu is proud to announce its cooperation with BTG, the largest investment bank in Latin America! The BTG Pactual SA is onboarding the digital assets industry by issuing its very own security token facilitated by Wuzu’s cutting edge technology.
The BTG token
BTG on its way to raising US$ 15 million through a Security Token Offering (STO). The bank is the first large financial institution in Latin America to launch such initiative and a pioneer in this practice within the banking sector worldwide. The token named ReitBZ will have its value based on the resolution of “distressed” real estate assets handled by the bank.
How the STO is going to work
Investors may purchase the token on a dedicated offer cabinet developed by Wuzu & BTG. Transactions will be performed using the stable coin Gemini Dollar, which matches the US Dollar in value, and Ethereum. ReitBZ holders will receive regular dividends from the resolution of the distressed assets which will be handled by a BTG-owned company called Enforce. Initially, the token is available globally with some exceptions (residents of Brazil, U.S.A., and others) due to regulatory directives.
Investment returns are estimated to be 15% to 20% annually which will be paid out in ETH or GUSD. The bank will perform market-making, and list ReitBZ in an exchange in the future for investors that wish to liquidate their investment quickly.
The borderless, speed and cost-effective nature of blockchain technology and cryptocurrencies enable ReitBZ to market its distressed real estate portfolio to investors around the world more affordably and efficiently. BTG’s STO campaign will go on for 90 days, and all proceeds will be allocated for reinvestment on the portfolio.
The technology and greater efficiency have also allowed the bank to reduce the minimum investment to US$ 10,000. This extends the initiative to a much broader investment pool if compared to similar opportunities performed traditionally.
Wuzu is thrilled to join forces with BTG in this world’s first tokenized security initiative by a traditional banking institution. It signifies a major stepping stone for the mass adoption of blockchain technology and the digital economy. The entire crypto community has an excellent reason to celebrate another win. The once thought as a distant future reality is getting closer much faster than expected. How exciting is that?