RATE Group | Hotel Aspen St. Regis Sells Real Estate Tokens on Ethereum Blockchain
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Hotel Aspen St. Regis Sells Real Estate Tokens on Ethereum Blockchain

23 Aug Hotel Aspen St. Regis Sells Real Estate Tokens on Ethereum Blockchain

Posted at 18:30h in Ethereum News by

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The owners of the St. Regis Aspen Resort in Colorado have begun to sell real estate security tokens on a blockchain with help from Indiegogo, a crowdfunding site.

“We think we have a once-in-a-lifetime opportunity to create a benchmark for what real estate tokenization looks like,” said Stephane De Baets, founder and president of Elevated Returns, owner of Aspen’s St. Regis and other hotel properties. Tokenization refers to the process by which an asset, such as equity, real estate, or fine art, is divvied up into fractional equity ownership stakes that are digitally tradable.

The St. Regis Aspen Resort represents one of the first major real estate properties in the U.S. to test out tokenization, a hot topic among cryptocurrency enthusiasts, investors, and crafty financial engineers. The St. Regis’s owner abruptly scuttled an investment trust IPO it had planned for the property in February, and the firm shifted its tactics to…

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