There are reports that tZERO platform owned by Overstock, has launched the trading of Aspen security token.
Going by records of ownership, Aspen security token is owned by the St. Regis Aspen Resort and has been listed on the platform to begin alternative trading. The Aspen Resort, the token owner, is a hotel in Colorado, United States of America.
This is good news on the part of Tezos as this token is the first official security coin that will be launched on a regulated platform. Furthermore, ASPD becomes the third official token to enjoy a tZERO listing.
Aspen security token presently sells for $1.30
Reacting to the good news, the CEO of tZERO, Saum Noursalehi, said he was happy that the new Aspen security token was finally listed on the platform. Going further, the CEO said this latest initiative by the company to go digital and allow investors to trade private securities is a good one.
This move would bring in more investors to the firm. After its listing, the ASPD token went on sale for $1.32 but has slightly declined to register a $1.30 price mark. Stephane De Baets, President of Issuance, ASPD token, said the listing helps real estate companies unlock liquidity.
tZERO backed tokens make massive price jumps
Elevated Returns have announced that it is making moves to tokenize real estate projects, which would use an additional $1 billion. To make this dream actualized, the firm said it would use the smart contract feature associated with Tezos FA 1.2.
Presently, tZERO has been enjoying a massive price increase in the market hence the listing of the new Aspen security token. Reports claim that the platform has hosted a total volume of $8 million in projects throughout July. tZROP token saw its price make a massive jump from around $1.20 to move to $4. Real estate tokens enjoyed a swell July as the whole market registered profits ranging from 7% to 35%.