real estate backed cryptocurrency reitBZRoberto Sallouti in a post revealing the latest portfolio addition for Brazil based BTG Pactual Bank announced that the bank is launching the ReitBZ security token to expand the diversity of business options for their global investor base. As a leading bank in Latin America and in the country, the move is considered a huge leap forward for the crypto-industry.
Sallouti believes that adding the cryptocurrency option out for their investors because they believe in progressive growth of their markets. The blockchain powered security token is currently tapping on the real estate market of the country through crypto investments.
The token would be a stable coin which would target one of the most distressed areas of the Brazilian financial landscape. This would also give a stable structure to the security with real estate assets in the backing. Profits of the business portfolio would be decided in tokens whereas, the expected fifteen million dollars in security token offering (STO) would gear the blockchain based solution.
The bank believes that this venture would gear the Brazilian real estate market and take it to new heights with total support with the government’s economic and regulatory outlook.” The assets in security token backing are based in Rio de Janeiro and Sao Paulo. The urban properties are at top tourist destinations that have somewhat lost their value in the current recession.
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