BlockFi provides credit services, lending and borrowing of cryptocurrencies, stablecoins and US Dollars. Lately they partnered with Elevated Returns, an asset management and tokanization firm that tokenizes assets on the Tezos blockchain. With the partnership, they announced to enable lending with digital assets tokenized by Elevated Returns as collateral.
Using these assets as collateral for loans, will enable investors to retain their investments and use that value to make other investments in hope of double revenue.
The first asset that will be allegible to use as collateral for loans will be Aspen coin.
Aspen coin is an asset backed security token. In this case, Aspen Digital Inc. owns the St. Regis Aspen Resort in Aspen, Colorado. This property is tokenized, which means that the total value is legally digitalized and distributed to investors as digital tokens. These tokens are digital securities and can be traded as long as regulations are enforced, which is done through smartcontracts, KYC (Know Your Customer) and AML (Anti Money Laundering) checks. Not only do these tokens hold value (determined by supply and demand), but they also give revenue. (For as long as the resort is profitable) Aspen coins can be currently traded on tZERO.
Next up for optional collateral will be assets Elevated Returns will tokenize for the Asian market. These tokens will also be traded on the exchange that Elevated Returns builds on Tezos: ERX.
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