Accredited investors can now indirectly own shares in the St. Regis Aspen Resort by purchasing so-called “Aspen coins” through the regulated broker, the company announced Wednesday. Templum will accept U.S. dollars, bitcoin and ethereum from investors looking to own shares in the company.
Aspen coins represent shares in the resort through a holding company, according to a press release. In other words, each token is backed by the resort itself, though it is actually owned by a holding company and operated by asset management firm Elevated Returns.
Templum Markets CEO Vince Molinari told CoinDesk that accredited investors can access a private placement sale for the Aspen coins by signing up through the startup’s platform.
Elevated Returns founder and president Stephane De Baets said in a statement that the coins represent a “transformative way to invest in real estate,” as well as a unique way of storing wealth.
“We believe that the real estate tokenization model has tremendous potential in that it brings liquidity and disintermediation to the world’s largest asset class.”
St. Regis Resort sign image via Shutterstock