Invest in the future of tokenized real estate.

When empires fall, we all need our own central bank 

Money – in the form of futures contracts and tokens of debts owed – date back to the dawn of civilization. It was around for thousands of years before anyone thought to carve the king’s face on it.

Governments have mishandled monetary policy for as long as people lived in cities and had a portable medium of exchange. Lenders have always pursued their own short-term gains over the public’s long-term interests by tightening their credit criteria just when the economy needs a boost from spending – and then they’ve often opened up a firehose of money, lending to anyone with a pulse just when a little discretion would’ve been called for. 

And regular folks have been caught in these messes every time. So it’s to be expected that they’ve found workarounds. Maybe cryptocurrency is new, but non-fiat currency is as old as money itself. 

“Friends, Romans, countermen …” 

Money – in the form of futures contracts and tokens of debts owed – date back to the dawn of civilization. It was around for thousands of years before anyone thought to carve the king’s face on it. But ever since that happened, most transactions have been conducted in sovereign currency. 

And that convention has never been adequate. 

Let’s take for example the Roman Empire. The denarius and its successors had intrinsic value – that is, the price of the metal content was literally the value of the coin. So when treasury officials started cutting the precious metals with lead or tin, the debased currency suddenly had less purchasing power. 

Over time, the money-spending public came to appreciate the backing of a central government. But Rome is not called the Eternal City for nothing – that empire lasted for centuries. And all that military might and all those public works didn’t come cheap, nor did the appetites of the emperors and their families. So inflation was definitely a factor in Roman life. There were periodic “financial reforms,” often involving a switch between silver, gold, bronze and copper as the intrinsic metal. Each reset was followed by a revaluation and, on occasion, a renaming of the currency. 

So Roman citizens often ignored minted money and invented their own The spintria – a unique numismatic artifact – became a thing. Through the first century, these cheap, bronze or brass coins were widely used for purposes lost to history, but one persistent theory is that they were brothel tokens. Spintriae depicted sexual acts on the obverse side and their numeric values on the reverse (adding new meaning to “heads or tails?”). The word comes from the same Latin root as sphincter, and near-contemporary historian Suetonius uses the word to refer to male prostitutes. 

Emperor Caracalla once sentenced a man to death for using a coin bearing his likeness to hire a prostitute, so there’s some tangential support that a non-fiat currency was needed for this time-honored purpose. Then again, Caracalla didn’t ascend to the purple until a hundred years after spintriae fell out of use. Caligula was one of the emperors under whom they were traded, and I’m pretty sure he wouldn’t have minded. 

Still, leading academics say that spintriae were used for some other purpose, perhaps as locker tokens. (For what it’s worth, the leading expert on the spintria was named Buttrey. He thought they were used as game pieces.) 

Once upon a time 

Rome fell, and all those denarii and, presumably, spintriae were worthless. The medieval world again had to find ways to conduct business in the maze of fiefdoms, bishoprics and suzerainties that succeeded the empire. Non-fiat currency took some time to gain traction, but then it kept rolling into the present day. 

The coins that enabled this came to be known as jetons. They date back to the Late Middle Ages and persist to this day in the form of casino tokens. Until recently, they were used for payphones and vending machines. 

There are three takeaways here: 

  1. Money functions best when it has intrinsic value. 
  1. Issuance from a sovereign authority might be helpful, but it’s not necessary and can actually become a hindrance. 
  1. Empires die and, when they do, they take all that “full faith and credit” with them. 

America has been quite benign as empires go. Certainly, it has afforded us the freedom to conceive and proffer the USDC token – even if it competes against the coins it mints and the notes is underwrites. America has been a beacon of opportunity, liberty and security in a world that needs more of all these blessings. America’s values are our values. 

But even the most ardent American patriot – in fact the more ardent, the more this seems to be true – agrees that there are businesses that the federal government has no good reason to be in. We’re just adding currency to the list, and we’re certainly not the first to do so. 

U.S. Property Coin (USP), a project of real estate development and management firm Primior, anticipated to be the first Securities and Exchange Commission-regulated, asset-backed security token drawing underlying value from real estate, providing investors a complete, transparent, stable and highly liquid digital asset that has the potential to appreciate over time and deliver yield by default. 

Join The USP Newsletter For Updates Directly In Your Inbox.

Want to receive updates whenever we share a new article about real estate tokenization, investing, or company updates? Join our newsletter!

Necessary Disclosures
Informational Purposes for Discussion Only

This general analysis is for general informational purposes only and does not constitute a prospectus, an offer document, an offer of securities, a solicitation for investment, or any offer to sell any product, item, or asset (whether digital or otherwise). The information set out in this general analysis is for community discussion only and is not legally binding.

No Responsibility or Obligation Regarding the Provision or Maintenance of Information

USP and its affiliated persons and their respective shareholders, members, officers, directors, managers, employees, counsel, advisors, consultants, and agents (“Representatives”) reserve the right, in their sole and absolute discretion with or without notice, to alter any and all of the information of this general analysis.

You acknowledge that: (1) the information contained in this general analysis is subject to change without notice, and no one shall assume from the lack of any updates to this general analysis that the contents of this general analysis have not changed since the date of this general analysis; (2) this general analysis could become outdated due to changing circumstances; and (3) USP or any of its Representatives does not hereby obligate itself in any manner to periodically or otherwise to update the information in this general analysis or to maintain the availability of any information in this general analysis.

No Advice

Nothing in this general analysis constitutes business, finance, legal, or tax advice. You agree to consult professional advisers before engaging in any activity related to the information provided in this general analysis.

Not an Offer for Any Securities or Investment

This general analysis does not constitute an offer of securities, a prospectus, an offer document, or solicitation for an investment of any kind. Information contained in this general analysis is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

You acknowledge that: (1) this general analysis and the information shown herein is not an offering of any securities nor a solicitation of an offer to buy any securities and (2) this general analysis and the information herein shall not be construed as any description of the business of USP or any of its Representatives in conjunction with any offering of securities.

Nothing Legally Binding

This general analysis does not constitute or imply a contract or an offer to enter into a contract. This general analysis is provided solely for informational purposes only and does not constitute any binding commitment by USP or any of its Representatives. No person is bound to enter into any contract or binding legal commitment in relation to anything in this general analysis.

No Liability, No Representation and Warranty Regarding Information

Neither USP or nor any of its Representatives shall be held liable for any use of or reliance on the information described and/or contained on this general analysis. USP and its Representatives do not and do not purport to make, and hereby disclaims, all representations, warranties or undertaking to any entity or person (including without limitation warranties as to the accuracy, completeness, timeliness, or reliability of the contents of this general analysis, or any other materials published by USP or its Representatives). To the maximum extent permitted by law, USP and its Representatives shall not be liable for any indirect, indirect, special, exemplary, incidental, consequential, or other damages or losses of any kind, however caused and on any theory of liability, whether in contract, strict liability, or tort (including, without limitation, any liability arising from default or gross negligence on the part of any of them, or any loss of revenue, income or profits, and loss of use or data) arising in any way from the reading of this general analysis, including but not limited to the reliance upon or the use of the general analysis (including, without limitation, inaccurate information, errors, omissions, outdated data, etc.) or otherwise arising in connection with the same.

No person has been authorized by USP or any of its Representatives to give any information or make any representation or warranty regarding the subject matter hereof, either express or implied, and, if given or made in this general analysis, in other materials or verbally, such information, representation or warranty cannot and should not be relied upon nor is any representation or warranty made as to the accuracy, content, suitability or completeness of the information, analysis or conclusions or any information furnished in connection herewith contained in this general analysis and it is not to be relied upon as a substitute for independent review of the underlying documents, available due diligence information and such other information as you may deem appropriate or prudent to review. USP and its Representatives expressly disclaim any and all liability for express or implied representations or warranties that may be contained in, or for omissions from or inaccuracies in, this general analysis or any other oral or written communication transmitted or made available to you.

Any historical information or information based on past performance included herein is for informational purposes only and has inherent limitations and is not intended to be a representation, warranty, or guarantee of future performance. Projected performance data shown constitutes “forward-looking information” which is based on numerous assumptions and is speculative in nature. Actual results may vary significantly from the values and rates of return projected herein.

Your Responsibility to Verify Information

You will have the sole responsibility for verifying the accuracy of all information furnished in this general analysis. There shall be no recourse against USP and its Representatives in the event of any errors or omissions in the information furnished, the methodology used, the calculations of values or conclusions.

No Affiliation

USP or its Representatives does not imply any affiliation with, or endorsement by, any third party. Such references in this general analysis are for illustrative purposes only.

Regulatory Approval

No regulatory authority has examined or approved, whether formally or informally, of any of the information set out in this general analysis. No such action or assurance has been or will be taken under the laws, regulatory requirements, or rules of any jurisdiction.

Legal Compliance

You will and shall at your own expense ensure compliance with all laws, regulatory requirements and restrictions applicable to you.

Sign Up Today:

What Comes Next?

Finish signing up

Sign up here and join our community of forward-thinking investors.


You will be redirected to after signup on this page.

Make an investment

Place your investment and become a part of the future of real estate investing.

Start Now

Start investing in tokenized real estate in 3 steps with as little as $1.

Create Your USP Account
Sign up and join our community of forward-thinking investors.
Fund Your Account
Easily add funds to your USP account from your bank, credit card, or ETH wallet to start your investment journey.
Begin Investing
Browse our marketplace for properties that match your investment criteria and begin investing.

Requirements for listing a property:

Property Type

Property Type: Must be either rental housing, or commercial real estate (multifamily, student housing, coliving, etc). We do not list single family rental properties.


Location: Property must be in a high-demand urban area.

Market Analysis

Market Analysis: Demonstrated investment potential.

Minimum Valuation

Minimum Valuation: Property must meet our minimum valuation standard of $3M.


Leverage: No more than 70% leverage will be accepted.

No Legal Disputes

No Legal Disputes: Free from legal disputes or encumbrances.

Maintenance Standards

Maintenance Standards: Well-maintained with certain aesthetic and functional standards.

Financial Records

Financial Records: Detailed financial records for the past years.

Environmental Compliance

Environmental Compliance: Meeting local environmental regulations.

Safety Inspections

Safety Inspections: Up-to-date safety inspection reports.

You're on the waiting list!

When our investment platform officially launches, you will be the first to know.

Follow us on:

We are committed to transparency with our community, and our USP Token Buyback Guarantee is designed to help you have faith in your investment.

Your trust is paramount to us. We stand ready as your safety net, committed to buying back any USP Tokens issued by us at the original price the tokens were issued at. For more information, reference page 26 of our whitepaper.