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tZERO begins trading Aspen tokens amid a record volume of security tokens

August 26, 2020

Aspen (ASPD), the security token that is part of the property of the St. Regis Aspen Resort – a five-star hotel with 179 rooms in Colorado, was added to the alternative trading system tZERO.

The messages show the first Tezos-based security token (XTZ) added to a regulated platform. ASPD is just the third token shown on tZERO and it is the first third party platform supported by the exchange.

Hem Noursalehi, CEO of tZERO, stated that he is “I am excited to see St. Regis Aspen digital collateral trading on the tZERO platform.”.

“Digitizing and trading private stocks like Aspen will be the future model that will allow wider access to investors, provide optional liquidity and lower the cost of capital.”

tZERO begins trading Aspen tokens amid a record volume of security tokenstZERO begins trading Aspen tokens amid a record volume of security tokens

On the first day of trading, ASPD fell slightly from $ 1.32 to $ 1.30.

Stéphane De Baets, President of the ASPD issuer, Increased Returns, described the quote as:

“An important step in opening up liquidity for high quality real estate projects that has the potential to open the door to a $ 6 trillion commercial real estate market.”

Elevated Returns plans to pursue additional real estate projects valued at $ 1 billion in the future with the standard FA1.2 contract from Tezos.

Aspen’s entry comes after an unprecedented surge in trading activity at TZERO. The platform is worth nearly $ 8 million in July.

Last month, TZERO’s TZROP token exploded from $ 1.20 to $ 4, while Overstock’s OSTKO token rose from $ 19.60 to $ 57.50. The upward momentum continued through August, with OSTKO last trading at $ 82 and TZROP at $ 5.10.

July was also a particularly strong month for real estate tokens the nine proprietary tokens that were traded on the RealT secondary markets, which recorded increases of between 7% and 35%.

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