PhillipCapital is launching a series of luxury wine-based cypto tokens as an alternative investment opportunity.
Named “the En Primeur Tokens” (EP), the tokens will be traded on Alta’s exchange platform – a private securities exchange licensed by the MAS.
Each token is linked to a parcel of 36 bottles of 16 wine labels. According to PhillipCapital, the tokens represent “the finest wines of the 2020 Bordeaux EP vintage such as Lafite Rothschild, Haut Brion, and Mouton Rothschild.”
“Upon bottling in 2023, or at the maturity of the secured notes in 2026, investors can opt to redeem for payment from the sale of wines or physical collection of the wines,” a statement from the company reads.
Luke Lim, MD of Phillip Securities said the tokens were created to meet the demand of clients who were looking for “alternative investment vehicles to complement their portfolios.”
“Thanks to the emergence of digital asset-backed securities, high-net-worth investors and family offices can add such rare and limited-edition luxury investments to their portfolios,” he added.
The project isn’t the first time PhillipCapital has engaged in such digital investment offerings. In early 2021, PhillipCapital and Alta launched Southeast Asia’s First Whiskey-Based ABS, which were listed on Hg Exchange.
Fine wines have served as a traditional investment due to their value appreciating with age, making them a “suitable medium to long-term investment,” according PhillipCapital.
No set date has been announced for purchasing the tokens but those interested are advised to contact PhillipCapital directly.