Securitize and Elevated Returns (ER) are aiming to tokenize $1 billion of real estate assets using the Tezos blockchain. Both the firms claim that they already have high valued assets in the pipeline and the collaboration will result in $1 billion worth of tokenized assets.
ER Global is one of the first companies which successfully structured, implemented, and executed the tokenization of the St. Regis Aspen (Aspencoin), a luxury trophy asset. The firm focuses on capital partner replacements, equity monetization’s, and recapitalizations for class A properties located throughout the U.S, South East Asia, and Europe. Aspencoin was originally issued on Ethereum but is now switching over to Tezos while stating that the blockchain is superior for asset tokenization.
Stephane de Baets, President of Elevated Returns, said that the firm is thrilled to select the Tezos blockchain which he personally believes provides higher security. “We have a number of very high-profile deals lined up and we could not afford to compromise the technological product. With the Tezos-powered solution and its integration in the Securitize portal technology, we feel we have a total solution.”added Stephane.
Role of Securitize
Securitize is a compliance platform for digitizing securities on the blockchain. It will add support for the Tezos blockchain to make sure of the Elevated’s compliance with securities laws and regulations. ER expects to efficiently tokenize and issue compliant assets on the Tezos blockchain in the regulated markets worldwide.
Carlos Domingo, Securitize CEO and Co-Founder said that with this new partnership and addition of Tezos blockchain they are aiming to to include many more tokenized real estate projects in the future. “The addition of Tezos and adoption of our DS Protocol as a defining standard for the Tezos blockchain is not only great news for global real estate, it also cements Securitize’s leadership in the market.”
Elevated is expecting to launch products in the Thai market in Q2 or Q3 of 2019 and is looking forward for additional acquisitions in other regulated markets throughout Asia.