Elevated Returns Switches Its Blockchain From Ethereum To Tezos
Elevated Returns (ER), a financial group focused on digitizing traditional financial assets, will use Tezos as the blockchain for its tokenized real-estate offerings. ER has a pipeline of real assets in excess of USD $1B targeted for these future token issuances.
The company is best known for its tokenization of the St. Regis Resort in Aspen, which raised USD $18 million through tokenization, That was issued on ethereum, but the company is switching blockchains.
Securitize, ER’s compliance partner, will add support for Tezos to 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,” said Stephane de Baets, president of Elevated Returns.
Tezos is a self-amending blockchain and smart contracts platform that allows organizations and individuals to transact in digital assets using its native digital currency (XTZ). To assist with its switch to Tezos, Elevated Returns is working with the Tocqueville Group (TQ), a New York City organization that supports individuals and companies building on Tezos.
As a part of ER’s expansion, it recently announced the 21 per cent acquisition of Bangkok-based Seamico Securities (BKK: ZMICO) giving it access to regulatory licenses and distribution capability in Thailand and other parts of Southeast Asia, a region which has been at the forefront of regulations for digital assets.
hrough this collaboration, ER expects to launch products in the Thai market in Q2 or Q3 of 2019 while looking at additional acquisitions in other regulated markets throughout Asia.