This month: Migration of $18 million worth STO from Ethereum to Tezos

This month: Migration of $18 million worth STO from Ethereum to Tezos

By Allen Walters | Publish0x posts | 9 Jul 2020


This one was announced quite some time ago, but now that Elevated Returns has its infrastructure ready, apparently it's time for action. The $18 million value STO "Aspen Coin" that was initially issued on Ethereum, is planned to be migrated to Tezos this month.

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- Source

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 through a private Reg D 506 (c) offering, which is compliant with the laws of the jurisdiction in which it is sold. 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)

"The St. Regis Aspen Resort is a full-service, 179 guest room, luxury hotel located in Aspen, Colorado with multiple upscale restaurants, a private spa, and heated outdoor pool with panoramic views of the Aspen mountainside." - Source 

Security Tokens listed by Elevated Returns are built on Tezos token standards, traded on-chain through Tezos based exchanges and gas is in XTZ.

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Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant.


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