ASPEN, CO (OCTOBER 27, 2020)— We’re excited to announce that BlockFi has entered into an agreement with asset management and tokenization firm Elevated Returns to provide lending facilities against digital assets issued within the Elevated Returns group of companies. Through these lending facilities, token holders will have access to capital while enabling them to hold onto their tokenized investments. The result is that investors can become more capital efficient, while allowing them to adhere to their desired investment horizon.
Elevated Returns and BlockFi plan to begin lending to holders of the Aspen Digital Token, which represents partial ownership in the St. Regis Aspen Resort. Later this year, the partnership will expand to include other tokens issued by Elevated Returns’ Asia-focused group regulated platform.
An innovator in multiple areas of digital finance, BlockFi is a prominent lender to cryptocurrency traders and asset holders. We recently closed a USD $50 million Series C funding round led by Morgan Creek and oversee over $2 billion in assets under management. This partnership represents BlockFi’s first lending activity based on tokenized real estate assets.
“Tokenization allows for more efficient, democratic, and cost-effective ways for investors to access illiquid or nontraditional assets, particularly in real estate,” noted David Olsson, Vice President and Head of Institutional Services Distribution at BlockFi. “BlockFi works with institutional and alternative asset managers investing in blockchain-based assets, including Bitcoin. We’re excited to expand our lending activity into assets such as real estate while maintaining our commitment to risk management, liquidity and global client service.”
“This partnership is key as it validates the vast world of opportunities that tokenization offers to owners,” said Stephane De Baets, President of Elevated Returns. “In addition to tokenization offering a price discovery on equity positions, token holders can now, thanks to this partnership, leverage their positions.”
Founded in 2017 by Zac Prince and Flori Marquez, BlockFi was created with the goal of providing credit services to markets with limited access to financial products. Bridging the gap between the worlds of traditional finance and blockchain technology, BlockFi Institutional Services provides lending and borrowing of cryptocurrencies, stablecoins, and US dollars. We’re powered by our retail cryptocurrency balance–-the largest and fastest-growing digital asset pool on the planet. We customize our lending products for each client’s specific business strategy, and are constantly evolving our services to address any future needs that might arise. BlockFi is backed by leading institutional investors and operates with a focus on compliance with US laws and regulations. This press release is not a commitment to make a loan and loans may be subject to credit approval. Loan products and services are subject to change. Learn more at BlockFi.com.
BlockFi Lending LLC NMLS ID#1737520 | BlockFi Trading LLC NMLS ID#1873137
About Aspen Digital
Aspen Digital Inc. is a Maryland corporation that has been formed with the sole purpose of indirectly owning a portion of the St. Regis Aspen Resort. Aspen Digital is externally managed by ER-RE, LLC., which is a subsidiary of Elevated Returns, LLC., a New York-based real estate asset management and advisory firm. Shares of ASPEN were distributed to accredited investors through a Reg D 506 (c) offering, which closed in October 2018 and raised $18 million. Aggregate shares of ASPEN represent approximately 19% indirect ownership interest in the St. Regis Aspen Resort, and the remaining 81% is indirectly owned by Elevated Returns. For more information, please visit https://aspencoin.io/index.html.
Dukas Linden Public Relations
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