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- NYCE firm partners with tZERO to tokenize $18 million worth of securities
- Investors will be able to choose optionally in liquidity
- Security tokenization may be the next big use case for blockchain technology
Apart from traditional banks and financial economies, platforms and sectors like trading exchanges for security tokens and crowdfunders are also being affected by the quick pace of cryptocurrency growth globally. Crypto assets have spread their roots in various industries and sectors and are now looking to develop more within the sectors. tZero, which is an alternative financial trading system for security tokens, has disclosed a partnership with NYCE Group, which is a real estate crowdfunding company in order to tokenize $18 million worth of the company’s shares.
tZERO firm partners with NYCE to tokenize securities
tZERO’s collaboration with NYCE will be the first new launching after the ASPN pairing in August 202 that represented fractionalized ownership in a Colorado ski resort. On June 30th, tZero announced that it will support secondary trade for NYCE’s tokenized common shares, as soon as the real estate firm has finished the upcoming Regulation A+ offering, subject to regulatory approval. The shares of NYCE will be tokenized using tZERO’s exclusive smart contract technology.
Philip Michael, who is the CEO and co-founder of NYCE states that through this partnership with the leading liquidity for digital securities firm, tZERO, investors will be allowed to choose from an optional pool of liquidity. Michael founded the real estate firm with FC Barcelona soccer player Martin Braithwaite. When the firm was launched, the media defined it as a “Robinhood of real estate investing.”
Investors will have wider options with the new partnership
The NYCE application permits the retail investors to possess fractionalized shares in properties from its $260 million portfolio, defining its aim to generate 100,000 high-net-worth millennial stakeholders of colour by the year 2030. A $1 million Regulation Crowdfunding (Reg CF) offering was concluded by NYCE in October 2020, which set an all new record for the fastest Reg CF offering to raise seven figures. In the year 2021, the firm finally initiated its application in the month of March.
Among the tokens presented on the exchange, the quantity for the ASPN token has persistently stayed below tZERO’s traditional token TZROP and Overstock’s digital security OSTKO since the ski resort’s token was inaugurated. The security token sector has seen a roller coaster of increase in volume. Roughly more than 110 times from less than $200,000 as of January 2020 to roughly $22 million during August.
According to a report published by Security Token Group, TZROP was presented as the most-traded security token in May 2021 with nearly $2.7 million worth of trade. The market cap for TZROP is roughly $140 million, ranking it as the 229th-largest crypto asset by capitalization.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
