US$ 87,569.20 will be distributed to investors via smartcontract for Ethereum blockchain
SÃO PAULO, July 27, 2020 /PRNewswire/ -- ReitBZ, a leveraged token backed by real estate issued by BTG Pactual, will be the first product of its kind to distribute portfolio profits to investors, with payments made via smartcontract using blockchain technology, an unprecedented development in the global financial market. Smartcontracts have undergone security audits by Chain Security (for Ethereum blockchain) and by Least Authority (for Tezos blockchain).
"We're investing constantly in innovation and cutting-edge technology, and ReitBZ is proof that our efforts along these lines have been generating good returns for our clients," said BTG Pactual CEO, Roberto Sallouti.
The amount of dividends paid out will come to US$ 87,569.20, considering that this first investment cycle generated US$ 220,288.12 in revenues. Launched in February of 2019 and with the issue of tokens three months later, ReitBZ invests in a portfolio of recovered real estate holdings managed by Enforce, a company of the BTG Pactual Group specializing in recovery of corporate credits. 322 units were acquired between August and December of last year, with 198 units sold as of now. In May of 2020, ReitBZ began to be issued on the Tezos blockchain platform.
"With technology and globalization, we've now broken through to new frontiers in various aspects of our lives, but when it comes to investments we're still thinking in very local terms. ReitBZ is a product that disrupts that way of thinking," notes André Portilho, BTG Pactual partner in charge of the token.
SOURCE BTG Pactual