The Aspen Digital Security Token has apparently successfully closed its offering. CI has been told that trades have already been registered via Templum, an alternative trading system (ATS) that is targeting the emerging STO marketplace.
Aspen Digital was created to raise capital for the St. Regis Aspen Resort in Colorado. The blockchain based offering was marketed to accredited investors using Indiegogo’s extensive user base. Indiegogo announced its intent to offer ICOs some time ago but has since apparently repositioned itself to focus more on promotion.
CI spoke to Stephane De Baets, President of Elevated Returns – the company putting together the deal, in September when he shared they expect to continue issuing securities on blockchain from their property holdings.
CI ran into Vince Molinari, founder and CEO of Templum, at last weeks Security Token Industry Launch event. Molinari stated:
“The closing of Aspen Digital, represents a paradigm shift in the financing of real estate and innovation within its capital stack. When regulation is put first, technological advancements can greatly accelerate access to capital and conduits to liquidity for these instruments.”
By using blockchain to offer and manage traditional securities, companies may be able to streamline issuing process. Of course, there is also a promotional aspect present to help boost the profile of the issuer and raise investor interest.
Expect more STOs in the coming months.
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