After an announcement from Tezos about the partnership with BTG Pactual, the largest investment bank in Brazil as well as the whole of South America, the price of the coin jumped as high as 20%, similar to how VeChain jumped 45% after the Walmart partnership.
A joint announcement from the companies revealed that the investment bank will be using the Tezos blockchain in order to facilitate Security Token Offering (STOs) in the future.
By using the Tezos blockchain both BTG Pactual and Dalma Capital (another partner) will ensure the digitalization of their services and the integration with the global digital economy.
Having one of the largest markets in the world is most likely going to kickstart even further Tezos consolidation and adaptation.
Despite the partnership, BTG Pactual is going to continue using the Ethereum blockchain for its larger blockchain projects but will base its STO department with Tezos.
The South American market is becoming more and more condensed between several crypto companies. Ripple is in the process of conquering the market, most companies are already using the Ethereum blockchain and Dash is dominating in Venezuela, the addition of Tezos to the mix brings to light just how much the region is starting to adapt to the digital economy and support the adaptation of cryptos in the key markets across the world.
When it comes to Tezos price, it’s likely going to repeat VET’s experience. It has surged from $1 to $1.26 within just a couple of hours, and will most likely return back to $1 in the coming days.