Aspen (ASPD) stands as a security token that represents a fractional ownership of the St. Regis Aspen Resort. This resort is a 179-room, five-star hotel situated in Colorado. Now, however, the ASPD has been listed on the tZERO alternative trading system.
Adding ASPD To tZERO’s Offering
With this announcement, ASPD stands as the first-ever security token based on Tezos (XTZ) that will be listed within a regulated platform. In regards to tZERO, in particular, ASPD stands as the third token listed on the platform, but does stand as the first-ever third-party platform that the exchange supports.
Saum Noursalehi stands as the CEO of tZERO, and expressed how thrilled he is to see the security token of St Regis Aspen be traded within the tZERO platform. He explained that ASPD stands as an example of the future model of investment. This is due to how digitizing and then trading in private securities will provide optionality regarding liquidity, broader access for investors, as well as reduce the costs of capital overall.
Plans For Expansion
Interestingly enough, ASPD had fallen on its first day of trade, going down from $1.32 to $1.30.
Stephane de Baets stands as the President of Elevated Returns, the issuer of ASPD. He went into detail regarding this listing, describing it as a paramount step to unlock liquidity to real-estate projects across the world. This listing, De Baets stated, had the potential to open the doors for the commercial real estate market, valued at a staggering $6 trillion.
With its rising success, Elevated Returns made it clear that it has plans to further tokenize more real estate projects, totaling in $1 billion in value.
The listing of the ASPD token comes after the tZERO exchange saw an incredible rise in tra.de activity. The alternative trading platform has managed to host almost $8 million in trade volumes during the month of July alone.
Real Estate Gaining Large Success In Crypto
Just last month, the TZROP token of the tZERO exchange exploded in value, almost quadrupling from $1.20 to $4. Overstock’s OSTKO token saw an incredible rally, as well, going up to $57.50 from its original price of $19.60. This bullish momentum kept going throughout August, as well, with OSTKO trading within the $80 range. TZROP, on the other hand, has seen an increase to $5.10, as well.
July was a very strong month for real estate tokens, in particular. Nine property tokens traded within the secondary markets of RealT managed to see gains from anywhere between 7% and 35%.