The Thai-based Seamico Securities Digital has announced that it has received its official license to issue real estate security tokens. The Block Crypto reported that the brokerage company, backed by Elevated Returns, is finally allowed to make real estate security tokens available for those who use their portal and services.
Stephane De Beats, Elevated Returns' president, was one of the first who broke the good news. With this permit, the securities brokerage is setting into motion its plans, which is to begin issuing tokens through the Tezos platform. The tokens can be used for various services and trading, most famous of which has been tokenized real estate, a move that has been gaining ground recently.
Elevated Returns has recently announced it plans to tokenize $1 billion worth of a real estate. Together with their partner Securitize, they hope to place the properties available for this on the Tezos public blockchain. The permit it secured appears to be the final piece to the puzzle; the Thai ICO portal license will allow Seamico Securities Digital to issue tokens to local investors.
Thailand may be one of the first to bat for a tokenized form of payment or investment in Southeast Asia, but it is only following a wave that's currently happening in the world. According to CryptoNinjas AlphaPoint had partnered with Elevated Returns for the tokenized real estate, which the latter plans to put up on Tezos.
Elevated Returns has its claim to fame in the St. Regis Resort. Located in Aspen, the location had raised $18 million USD in security token offerings (STO) in 2018. It was notable for being the first of its kind and also becoming one of the successful tokenizations of a trophy real estate.
AlphaPoint hopes to help Elevated Returns facilitate such a deal yet again. The developers have announced that it had upgraded to further cater its enterprise-grade clientele and to provide better services to security token investors. It will be responsible for the 'white-label exchange' technology that Elevated Returns plans to use to work on the Tezos blockchain investments.
The announcement from Elevated Returns also came with the revelation that it had also bought 21 percent of Seamico Securities Digital, the Bangkok-based brokerage. This acquisition was made to further facilitate regulatory framework permissions on tokenizing real estate in Thailand, as well as in parts of the Southeast Asian region. About $1 billion or more properties stand to be tokenized as part of Elevated Returns' tokenization drive.
