cryptodailytrading.com

Elevated Returns Selects Tezos for Tokenizing Real Estate Worth $1 Bln to Create New Standard for Issuing Security Tokens

  • Yuri Molchan
    📰 News

    Financial group Elevated Returns along with Securitize compliance firm intend to sell tokenized real estate worth $1 bln on the basis of Tezos to investors


Elevated Returns Selects Tezos for Tokenizing Real Estate Worth $1 Bln to Create New Standard for Issuing Security Tokens
You may also like:
Contents

On Monday, February 11, it was reported that two partners, financial group Elevated Returns (ER) and compliance firm Securitize intend to use the Tezos platform for offering qualified investors tokens that represent $1 bln of real estate.

No more Ethereum, now it’s Tezos

Previously, the same companies were in news headlines in 2018, when they tokenized the St. Regis Resort in Aspen, having collected $18 mln through selling tokenized property.

ER is famous as an issuer of security tokens. Before, the St. Regis Resort was tokenized via Ethereum. This time the company wants to utilize the Tezos platform, believing it to be better for this particular purpose, with better secured smart contracts.


Securitize, the compliance partner of ER for turning securities into digital tokens, intends to add support for Tezos to make sure ER complies with the laws regarding securities and crypto regulations. This will allow ER to emit tokenized assets on Tezos under global regulatory rules and use them on markets worldwide.

👉MUST READ BitTorrent Token Giveaways About to Launch, Get Free BTT Without Binance
BitTorrent Token Giveaways About to Launch, Get Free BTT Without Binance

Another company in the chain

ER will use the services of Tocqueville Group, a company based in New York City helping companies to create their product on the Tezos platform.

Tezos is a blockchain platform allowing the development of smart contracts and enabling companies and individuals to transfer virtual coins in its own coin, XTZ.

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!
👓 Recommended articles

Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
You may also like:
Contents

It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

👉MUST READ Bitcoin’s Price Rally Was Accurately Predicted by Anonymous 4chan Poster. $16,000 in October?
Bitcoin’s Price Rally Was Accurately Predicted by Anonymous 4chan Poster. $16,000 in October?

Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

👉MUST READ This Is the Happiest Bitcoin Investors Have Been Since 2016: Tom Lee
This Is the Happiest Bitcoin Investors Have Been Since 2016: Tom Lee

Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.
👓 Recommended articles