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BREAKING: Tezos-Based Exchange ERX Will List First ICO In July With Thai SEC Approved Filing

Tezos-based exchange ERX will list a first ICO in July With Thai SEC Approved Filing. The ICO will be for $80M and will be a real estate-backed public offering with simultaneous listing on ERX.

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ERX & The First ICO

The long awaited activation of the Tezos-based exchange ERX, developed by Elevated Returns, will have its first active listing with Tezos-based real estate STO. This is due to the Thai SEC formally accepting the filing.

The token is called NBIT and is an USD 80 million real estate backed token. ICO starts in June, listing on ERX will be in July this year.

Stephane De Baets, Founder & President of Elevated Returns stated:

Amazing news the Thai SEC has formally accepted our filing . USD80m real estate backed token public offering with simultaneous listing on ERX. Marketing start tomorrow .ICO in June . Listing July .This is Tezos based NBIT token.

STOs

An STO is a Security Token Offering. This means that these tokens are classified as securities and that trading them will need to be done while following strict regulations.

This can be done by implementing all the rules and restrictions of these regulations through smart contracts on the Tezos blockchain in these tokens.

Each STO will have their own regulations to follow and thus will each STO willhave their customized rules and restrictions implemented.

Trading STOs and registering them on blockchain allows the automation of several processes in an immutable and transparent way. This brings many advantages such as cost reduction and large reduction in process times. (For example legal processes).

Another advantage of tokenizing assets such as real estate into STOs, is the fact that large assets can be sold fractionalized. An entire building can now be owned by a large number of investors who all share in the revenue that building brings.

At the same time, selling and buying fractions of such an asset can be done simply by trading tokens.

ERX and Tezos

The Tezos blockchain is an important component of ERX. All traders that register on ERX will have personal addresses on the Tezos blockchain.

Due to the fact that users will need a separate address for each asset they own on ERX, every user will eventually have several Tezos addresses to his or her name.

Initial trades will be made in the custodial wallet and all transactions will be registered on the Tezos blockchain in batches. This way customers will be able to pay in fiat, while ERX takes care of the transaction costs which are paid in XTZ.

Why Tezos addresses? This is because all assets that are traded on ERX will be registered on the Tezos blockchain. And all the necessary info will be needed to be able to comply with the Thai SEC can be registered using Tezos’ token standards.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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