Aspen (ASPD), a security token that represents the ownership in the St. Regis Aspen Resort is now available for trading on the tZERO alternative trading system. It is revealed that this is going to be the first third-party security on the platform.
According to the announcement, Aspen token is going to be the first digital security trading that utilizes Tezos blockchain on the regulated platform.
Aspen token has 19 percent of ownership
As per the claims, Aspen token is having a 19 percent of ownership in the five-star resort, which is located in Aspen, Colorado. Saum Noursalehi, CEO of tZERO has said,
“we are thrilled to see the St. Regis Aspen digital security trading on the tZERO platform. Digitizing and trading private securities like Aspen will be the future model that will enable broader investor access, provide liquidity optionality, and reduce the cost of capital.”
It was also reported that on the very first day of trading, Aspen token fell slightly by $0.02. Stephane De Baets ASPD issuer president from Elevated Returns has said that this is an important step for all the real estate projects that are having huge potential. This will help them to reach a $6 trillion commercial real estate market.
Elevated Returns will further tokenize real estate projects
Along with the announcement of Aspen trading on tZERO, Elevated Returns is planning to tokenize more real projects worth around $1 billion. Before this listing of ASPD, tZERO had seen a great increase in trading activity. It was observed that July has proved to be a great month for all the real estate tokens. This is because such tokens have shown some huge gains in that period, ranging from 7% and 35%.