The tZERO platform belonging to Overstock is now showcasing digital security from Aspen.
Aspen (ASPD), which is bought by people who want to tap into the resources of St. Regis Aspen Resort, a top rank hotel in Colorado containing 179 rooms, can now be bought on tZERO trading platform.
This is the first time a security token from Tezos (XTZ) is being traded on a legally recognized platform. There are two other tokens already on tZERO.
The CEO of tZERO, Saum Noursalehi expressed his gladness on seeing the Aspen security token listed on his platform. He said:
“Digitizing and trading private securities like Aspen will be the future model that will enable broader investor access, provide liquidity optionality, and reduce cost of capital.”
The first day ASPD traded, it recorded a small loss of $0.02 having closed at $1.30.
The president of Elevated Returns, Stephane De Baets, said the listing was:
“An important step toward unlocking liquidity to quality real estate projects, which has the potential to open the door to a $6 trillion commercial real estate market.”
Elevated Returns was the one that issued the Aspen Token. It is still preparing to tokenize other real assets worth $1 billion all together on the Tezos blockchain.
Before Aspen was listed on tZERO, the trading platform experienced a rapid increase in trade activity last month when the total trading volume almost hit $8 million.
In July, TZROP did so well on tZERO that its prize flew from $1.20 to $4 while the OSTKO token from Overstock increased from $19.60 to $57.50. The price rally has been sustained in August as OSTKO and TZROP keep impressing investors with their prices which was last seen as $82 and $5.10 respectively.
Many real estate tokens did well in July. It was a period when the real estate tokens that traded on RealT’s secondary markets made profits from 7% to 35%.