Brazilian Bank Tokenizes Real Estate

BTG Pactual announced the issuance of its ReitBZ token using the Tezos blockchain. ReitBZ is a security token backed by Brazilian real estate. In February 2019 BTG Pactual revealed that it would start tokenizing Brazilian real estate on the Ethereum blockchain. ReitBZ has been used to acquire 323 real estate units, of which 181 units have been sold so far. The bank will soon launch a secondary market to trade ReitBZ. It enables individuals to invest in Brazil’s real estate market and receive periodic dividends based on the performance of underlying assets.