#CryptoCorner: Tezos #Blockchain Being Utilized by BTG Pactual and Dalma Capital for STOs, Venezuela’s Maduro Orders Central Bank to Accept Petro
Point Roberts WA, Delta BC, July 5, 2019 - Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.
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Latin America’s largest investment bank, BTG Pactual, and Dubai-based asset manager Dalma Capital have announced plans to utilize the Tezos blockchain for Security Token Offerings (STOs). The STO deal pipeline, according to the press release, is potentially worth more than $1 billion. Zachary Cefaratti, CEO of Dalma Capital, commented:
“With blockchain technology now becoming a reality globally, we are delighted to be working with the Tezos Foundation and Tocqueville Group teams, whose technical expertise compliments our investment banking and asset management credentials. We see Tezos as one of the critical protocols for the burgeoning STO market, and look forward to securing future deal flow on the Tezos blockchain.”
Reuters reports that the Bank of Japan’s (BOJ) Deputy Governor Masayoshi Amamiya recently said that the adoption of central bank digital currencies (CBDCs) would have to eliminate cash as a viable payment method. He said that if CBDCs were issued with negative interest rates, people would opt to hold cash instead.
“If central bank digital currencies replace private deposits, that could erode commercial banks’ credit channels and have a negative impact on the economy.”
“To overcome the nominal zero lower bound, central banks would need to eliminate cash. Eliminating cash would make settlement infrastructure inconvenient for the public, so no central bank would do this.”
A tweet from Venezuela’s Ministry of Finance reveals that the country’s president, Nicolas Maduro, has instructed the central bank to accept Venezuela’s Petro cryptocurrency. A loose translation reads:
“I give the express order for the opening of the Petro's ticket offices in all the branches of the Bank of Venezuela”
A press release from Securities Commission Malaysia, the country’s capital markets regulator, warns that with the exception of three recently registered Recognized Market Operators (RMOs) – Luno Malaysia, SINEGY Technologies, Tokenize Technology – all crypto exchanges are to close services and refund users.
Apart from the three operators mentioned above, no other online platforms are permitted to establish and operate a DAX in Malaysia currently. As such, all other DAX operators are required to immediately cease all activities related to the trading of digital assets and return all monies and assets collected from investors. This also applies to operators who were under the SC’s initial transitional period list.
Sam Mowers, Investorideas
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