Aspencoin Partners with Securitize Platform to Upgrade $18M Security Token Issue

Aspencoin, which is tokenizing holiday real estate in Colorado, will hand over token management to the Securitize platform.

Aspencoin has upgraded its $18 million security token issue through a partnership with the Securitize platform. The migration of the tokens would offer the chance to trade Aspencoin across multiple platforms and exchanges, as reported by CrowdFundInsider.

Aspencoin represents fractional, tokenized ownership of the St. Regis Aspen Resort, with a fully legal offering of tokenized real estate-based securities. The tokenization of a hotel resembles real estate investment trust (REIT) vehicles, but tokens also allow for a more agile form of transfer and trading. The Aspencoin security token offering (STO) gained attention as it reached its funding goals through the Indiegogo crowdfunding platform at a time when initial coin offerings (ICO) had dwindled to almost zero.

“It is our mission to create an ecosystem for real estate tokenization in the crypto world. We want to enable investors to benefit from the accessibility, liquidity, and transparency of real estate digital securities,” Aspencoin founder and president Stephane De Baets said.

Securitize, a fully compliant operator of token issues, has seen rising adoption in the still nascent STO market. The Digital Securities (DS) protocol is an all-encompassing approach to curating tokens. Securitize takes care of the entire life cycle of the token, from the involvement and screening of investors to exchange operations.

“The rich features of digital securities (efficient capital formation, investor relationship automation, coded compliance and liquidity) manifests well in larger companies, so we’re very excited to see the rollout of the tokenization of the St Regis Aspen Resort,” Securitize founder and CEO Carlos Domingo commented.

No new Aspencoin tokens will be issued, and any chance of buying a fraction of the underlying property would be through exchanges once Aspencoin gets listed and starts trading.