tZERO Plans to Support Trading of Aspencoin Ski Resort Digital Security

Token issuer Aspen Digital raised $18 million selling digital shares of the St. Regis resort in 2018.

AccessTimeIconJul 22, 2020 at 6:11 p.m. UTC
Updated Sep 14, 2021 at 9:34 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

tZERO President Saum Noursalehi said Wednesday his token trading platform plans to enable trading of St. Regis Aspen Resort digital securities later this quarter.

  • The security-token focused offshoot of Overstock.com will support trading of “Aspen Digital Tokens” (ASPEN) in partnership with token issuer Aspen Digital Inc, a subsidiary of the real estate firm Elevated Returns LLC, the firms said in a press release.
  • ASPEN’s cumulative shares represent a 19% indirect ownership stake in the five-star St. Regis Aspen Resort later. Aspen Digital Inc raised $18 million when it sold the security tokens to accredited investors in October 2018.
  • Noursalehi told CoinDesk that ASPEN will become the alternative trading system's (ATS) first third-party digital security when it joins TZROP and OSTK, both associated with Overstock family companies.
  • Though ASPEN was Elevated Returns’ first digital security, and it's first to come to tZERO, it is not expected to be the last. "We are looking forward to a long-term partnership beyond the Aspen security," Noursalehi said.
  • Elevated Returns plans to tokenize around $1 billion in real estate projects in the coming years. President Stephane De Baets says his firm "expects a few offerings to go live in its Asian ecosystem before year-end."

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.