Token trading platform Templum Markets has launched a sale of a security token on behalf of a popular Colorado resort.
Accredited investors can now indirectly own shares in the St. Regis Aspen Resort by purchasing so-called "Aspen coins" through the regulated broker, the company announced Wednesday.
Aspen coins represent shares in the resort through a holding company, according to a press release. In other words, each token is backed by the resort itself, though it is actually owned by a holding company and operated by asset management firm Elevated Returns.
Templum will accept U.S. dollars, bitcoin and ethereum in exchange for the tokens during the sale.
Vince Molinari, Templum CEO, told CoinDesk that accredited investors can access a private placement sale for the Aspen coins by signing up through the startup's platform.
"Each token grants investors the economic interest equal to one common share of the Aspen Digital, Inc. single asset REIT, inclusive of voting rights and the REIT's income distributions, he said."
Elevated Returns founder and president Stephane De Baets said in a statement that the coins represent a "transformative way to invest in real estate," as well as a unique way of storing wealth.
St. Regis Resort sign image via Shutterstock
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