In a recent development, Alliance Investments has partnered with tZero, Tezos Foundation to tokenize £500 MM Worth of Real Estate Projects. Following the announcement, Tezos coin has jumped nearly 12%.
A Look At Weekly Price Charts
The previous week saw Tezos price losing 9.76%. Furthermore, the coin’s market cap fell down from $502.75 MM to $501. 93 MM. The starting of the week saw Tezos trading at 0.8754 USD following which it plummeted to 0.7650 USD after losing 12.61%. It was followed by a hike of 9.02% that added 0.0690 USD to the price and pushed it 0.8340 USD. The last price movement took place post the announcement of the partnership and the coin is trading at $0.91, at press time after having touched a 30-day high of $0.969 in the last 24 hours.
UK’s First Real – Estate Security Token Offering
Alliance investments first project will be real estate tokenization of River Plaza, a 180-unit luxury residential development that is located on the banks of River Irwell. The collaboration will result in UK’s first real estate-backed security token offering (STO).
The former will tokenize a minimum of £20 MM of the value of River Plaza. The River Plaza STO will be digitized using tZERO’s tokenization technology and Megalodon’s advisory services and it will be issued on the Tezos Blockchain. Furthermore, River Plaza’s security tokens will provide investors with liquidity through tZERO’s secondary trading technology. The STO is all set to launch in the first quarter of 2020.
From the COO’s Desk
“We firmly believe that digital securities represented by security tokens are the future of how the world will trade value. Tokenizing real estate will democratize access to this traditionally exclusive asset class, and we are thrilled to partner with Alliance Investments to advance our goal of tokenizing and trading all assets.”
said tZERO CEO Saum Noursalehi
“Raising funds through an STO is more efficient, cost-effective, autonomous and democratic than traditional financing. We believe that we are at the forefront of a technological change that can disrupt the current funding paradigm and we are delighted to partner with two global players that are leading blockchain innovation, tZERO and The Tezos Foundation, for our first STO.
said Alliance Investments CIO Rani Zahr.
Will Tezos token continue showing bullish price trends? Let us know, what you think in the comments below!