Tezos (XTZ) Is Used To Tokenize Real Estate Worth $1 Bln

Real estate worth $1 bln will be tokenized using Tezos (XTZ). The project is going to be implemented by Elevated Returns financial group, as stated in their press release. Previously, the company already conducted tokenization of the St.Regis Resort in Aspen, with the use of the Ethereum blockchain at that time.

Stephane DE BAETS, the founder and president of ER, highly appreciated the partnership of his company with Tezos:

“We are thrilled to select Tezos to provide investors with the highest security and compliant tokenized real estate offering experience possible […] There is no better solution than working on a Tezos-based token implementation […] With the Tezos-powered solution and its integration in the Securitize portal technology, we feel we have a total solution”.

Securitize, a company specializing in ensuring legal compliance of digitization of securities on the blockchain is currently included in the list of partners of Elevated Returns and will be responsible for compliance with the regulations and laws. This integration would help avoid litigation.

Tocqueville Group is also in the list of project partners. It is a firm that will assist Elevated Returns during the start of real estate sales.

Image courtesy of National Times