Leading Latin America investment bank BTG Pactual joined the organizing committee of the Post-Trade Distributed Ledger (PTDL) Group.
Alliance for blockchain use
Industry news outlet LedgerInsights reported on Aug. 15 that Brazil-based bank BTG Pactual joined PTDL Group’s organizing committee. PTDL Group reportedly provides a platform allowing market participants to share information on blockchain and discuss applications in the financial services sector.
According to its official website, PTDL Group includes nearly 40 financial institutions and prominent market infrastructure players. The organization also claims that it is playing a role in shaping the recommendations of regulators. Namely:
“Practitioners, regulators, and central banks connect through PTDL to identify and drive activities and position specific recommendations that may leverage distributed ledger technologies’ for the benefit of the post-trade industry.”
Other committee members reportedly include CLS Bank International, asset management company Janus Henderson, London Stock Exchange Group, Moscow Exchange, financial services firm State Street and Global Blockchain Business Council (GBBC).
CEO of GBBC, Sandra Ro, stated that the institution will be instrumental in allowing for better application of distributed ledger technology. Owler estimates BTG’s annual revenue to be $1.5 billion.
BTG Pactual pioneering crypto in Latin America
As Cointelegraph reported last month, BTG Pactual plans to shift its security token offerings, a pipeline of over $1 billion in sales, onto the Tezos blockchain.
In February reports also started circulating that BTG Pactual has the intention to release its own token, dubbed “ReitBZ,” which will be backed by distressed real estate assets in Brazil.