St. Regis Aspen Resorts to Tokenize Equity Using Tezos Blockchain

2024-02-27 22:56:46

Hongji Feng

Last updated:

February 28, 2024 01:56 EST | 1 min read

Source: DALL·ERSRV, a hotel ownership marketplace co-founded by Aspen-based entrepreneur Stephane De Baets, is partnering with the Tezos blockchain to tokenize a part of the equity in St. Regis Aspen Resort.

According to a press release shared with Cryptonews.com, the tokenization project is supported by tZero Group, Elevated Returns, and Science Ventures, allowing investors to gain equity in the hotel and the unique opportunity to exchange tokens for room stays.

Tokenized St. Regis in March 2024

Approximately 5% of St. Regis Aspen Resort’s equity is slated for tokenization, with the sale set to occur in March. Following the sale, these tokens will become tradable on the tZero platform’s secondary market.

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

“Shares will utilize Tezos blockchain technology to provide unique informational transparency into the capital structure of the issuer,” according to the press release.

“Adding this redemption utility feature to an equity position is something that we see big demand for,” said De Baets. “Besides locking room rates at perpetuity, you are also being recognized as an owner and can access various perks and benefits”.

Eastdil Secured Managing Director Jeffrey Davis also shared insights, stating, “Over time hotel owners may be able to use the RSRV platform as a form of alternative financing for real estate assets.”

Major Financial Institutions Weigh In

Larry Fink, CEO of BlackRock, has previously highlighted the potential of blockchain technology for asset tokenization, claiming that tokenization would offer “the prospect of driving efficiencies in capital markets, shortening value chains, and improving cost and access for investors.”

In addition, the tokenization of debts also gained momentum over the past year.

Casper Association board member Ralf Kubli said, “2023 saw several debt tokenization initiatives, including Goldman Sachs Digital Asset Platform and HSBC’s introduction of the Orion platform.”

Goldman Sachs has engaged in numerous blockchain and digital asset projects, notably including its participation in offerings of tokenized securities.

Similarly, HSBC has investigated the application of blockchain technology in areas like trade finance and digital identity, potentially incorporating digitalization.

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