IndieGoGo Launches Security Token Platform with ‘Aspen Digital’ Token Sale

IndieGoGo originally launched a platform to host ICOs in December of 2017.

Crowdfunding platform IndieGoGo is now offering companies the ability to sell asset-backed security tokens, according to a new report from CNBC.

The first security token sale through the platform is being conducted by real estate trust investment trust Aspen Digital. The company is using IndieGoGo to sell tokenized investments in St. Regis Resort, a luxury ski resort in Aspen, Colorado. The tokens, dubbed ‘Aspen Coins’, were created in collaboration with Templum, a crypto brokerage startup based in New York.

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The tokens will allow investors to indirectly own an equity stake in Aspen Digital. Tokens can be purchased with USD, Bitcoin, and Ethereum.

IndieGoGo said that although security token offerings (STOs) are similar to initial coin offerings (ICOs), security tokens operate under increased regulatory provisions. Therefore, STOs are largely regarded as less risky, although companies holding STOs must ensure that their practices are as compliant as possible.

IndieGoGo Originally Opened an ICO Hosting Platform in 2017

IndieGoGo originally announced the opening of an ICO-hosting platform in December of 2017. At the time, IndieGoGo co-founder Slava Rubin said “we want to bring a brand of trust to the entire industry, which we think will bring ICOs to the mainstream.”

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Now, Rubin says that the launch of the security token platform is a reflection of the fact that IndieGoGo is “hoping to see continued growth if this is what the market demands.”

Rubin also told CNBC that the platform “really goes back to our original vision where we wanted to democratize access to capital and bring investment all kinds of people around America and the world.”

IndieGoGo had been in the business of crowdsource startup funding for quite a while before the launch of its ICO platform. The firm partnered with MicroVentures, an equity crowdfunding website, in 2016.

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