In a major announcement, tZERO, an industry leader in providing liquidity and financial innovation, has said that it has started trading of the St. Regis Aspen digital security on the tZERO ATS. This is the 1st third-party security on the platform, as well as the 1st digital security trading that uses the Tezos blockchain. The value of the volume of shares trading on tZERO is about 19% of the possession in the Hotel St. Regis Aspen Resort in Aspen.
The issuer of the Resort digital security is Aspen. It is a subsidiary of Elevated Returns, LLC, a real estate advisory and asset management company. Using the Tezos FA 1.2 smart contracts, Elevated Returns plans to tokenize about $1B of real estate schemes.
The top executives of the concerned companies, tZERO, and Elevated Returns, are excited at the developments and both look forward to more investor access.
tZERO CEO Saum Noursalehi said,
Elevated Returns President echoed similar sentiments. He said,
At present, there are only two tokens that are traded on the tZERO platform. They are OSTKO, the token that represents Overstock and TZORP, the token for tZERO. What makes the trading of the latest addition, St. Regis Aspen digital security token on the platform unique is that it is neither related to tZERO or Overstock (NASDAQ: OSTK). In another major development for the tZERO platform, the value of the shares in Overstock has risen substantially largely due to the growth of the e-commerce sector and the installation of a new management team. This achievement by Overstock has helped the cause of the tZERO platform to become a leading player in the digital asset environment and market.