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St. Regis Aspen Resorts to Tokenize Equity Using Tezos Blockchain

RSRV, a platform for hotel ownership transactions founded by entrepreneur Stephane De Baets of Aspen, has forged a partnership with the Tezos blockchain. The aim is to tokenize a portion of the equity in the St. Regis Aspen Resort.

As per a press release provided, this tokenization initiative is backed by tZero Group, Elevated Returns, and Science Ventures. It offers investors the chance to acquire equity in the hotel and provides a distinctive opportunity to use tokens for booking room stays.

Tokenized St. Regis in March 2024

Around 5% of the equity in St. Regis Aspen Resort is earmarked for tokenization, with the sale scheduled for March. Post-sale, these tokens will be available for trading on the secondary market of the tZero platform.

RSRV has opted for the Tezos network for tokenizing St. Regis Aspen Resort’s equity due to its robust security, scalability, and energy efficiency.

According to the press release, “Shares will leverage Tezos blockchain technology to offer unique transparency into the issuer’s capital structure.”

Stephane De Baets commented on the development, stating, “Integrating this redemption utility aspect into an equity position responds to a significant demand. In addition to locking in room rates indefinitely, you’re also acknowledged as an owner and can access various privileges and benefits.”

Jeffrey Davis, Managing Director at Eastdil Secured, shared his perspective, saying, “Over time, hotel owners might utilize the RSRV platform as an alternative form of financing for real estate assets.”

Major Financial Institutions Weigh In

Larry Fink, the CEO of BlackRock, has previously emphasized the potential of blockchain technology for asset tokenization, suggesting that it could lead to “efficiencies in capital markets, shorter value chains, and improved cost and access for investors.”

Furthermore, the tokenization of debts has gained traction in the past year.

Ralf Kubli, a board member of the Casper Association, remarked, “In 2023, we witnessed several initiatives in debt tokenization, such as the Goldman Sachs Digital Asset Platform and HSBC’s launch of the Orion platform.”

Goldman Sachs has been involved in various blockchain and digital asset projects, notably participating in the issuance of tokenized securities.

Similarly, HSBC has explored the use of blockchain technology in fields like trade finance and digital identity, potentially integrating digitalization into its operations.

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