Ogier
has advised long-standing client BTG Pactual, Latin America's biggest
standalone investment bank, on its first security token offering
(STO) known as "ReitBZ". The token will be backed by
distressed real estate assets.

Residents
in Brazil, the U.S. and certain other jurisdictions are restricted
from participating in the STO.

An
Ogier team led by partners Bradley Kruger and James Heinicke and
associate Michael Robinson advised on the Cayman law elements of the
STO. Bradley said:

"This
is an innovative use of security tokens targeting international
investors, and utilising blockchain technology to open up access to
real estate assets in Brazil. We are seeing Cayman structures being
used for STOs in a number of interesting ways, and this transaction
underlines the enduring appeal of the Cayman Islands for both
Brazilian financial institutions and blockchain ventures."