Financial giant Credit Suisse announced on the 5th that it will use the Ethereum (ETH) blockchain to support the tokenization of stocks of ski and sports resort Alaïa.
The resort is located in Crans-Montana, Switzerland, and has facilities such as skiing, surfing, and skateboarding.
The project was realized by Credit Suisse in partnership with Swiss crypto custody and trading service provider Taurus.
Lamine Brahimi, co-founder at Taurus, told Ledger Insights:
“We are committed to supporting entrepreneurs and financial institutions to make private assets digital and facilitate corporate finance 2.0.”
The stock tokens will be issued in compliance with Swiss laws and regulations. According to relevant legislation that came into force in February 2021 in Switzerland, tokenized assets can be regulated and managed like traditional assets and have the same legal standing.
Credit Suisse is expected to make a private placement on Alaïa’s stock tokens, allowing Taurus to secure liquidity and open trading in the first quarter of 2022.