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

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  • 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
Cover image via u.today
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.

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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.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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