NEW YORK, Feb. 11, 2019 /PRNewswire/ -- Today, Elevated Returns (ER), a financial group focused on digitizing traditional financial assets, announced that it has selected Tezos as the blockchain on which it will offer ER's fully compliant tokenized real-estate offerings to qualified investors. ER has a pipeline of real assets in excess of USD $1B targeted for these future token issuances.
Best known for its tokenization of the St. Regis Resort in Aspen, which raised USD $18 million through tokenization, ER is a leader in security token issuance. While the St. Regis offering was issued on Ethereum, the team is switching to Tezos, seeing it as a superior blockchain for asset tokenization, future-proofing ER's offering and offering a greater focus on smart contract security.
Securitize, ER's compliance partner and the leading compliance platform for digitizing securities on blockchains, will add support for Tezos to ensure ER's compliance with securities laws and regulations. This will ensure that ER can continue to tokenize and issue compliant assets on the Tezos blockchain in regulated markets worldwide.
"We are thrilled to select Tezos to provide investors with the highest security and compliant tokenized real estate offering experience possible. Having worked closely with regulators and local authorities around the world, we understand the need for the highest security and compliance features. There is no better solution than working on a Tezos-based token implementation," said Stephane de Baets, President of Elevated Returns. "We have a number of very high-profile deals lined up and we could not afford to compromise the technological product. With the Tezos-powered solution and its integration in the Securitize portal technology, we feel we have a total solution," added de Baets.
Tezos is a self-amending blockchain and smart contracts platform that allows organizations and individuals to transact in digital assets using ...