cryto

Overstock’s Security

Overstock’s Security Token Platform Starts Live Trading

Overstock.com, the well-known E-commerce giant’s digital asset subsidiary tZERO announced that secondary trading of tZERO tokens is now live, as per a press release published on Jan. 24.

Accredited investors can trade the security tokens through a digital securities brokerage account at Dinosaur Financial Group, as per the release. Notably, Dinosaur Financial Group will act as a broker-dealer. Furthermore, Dinosaur partnered with tZERO subsidiary PRO Securities, which provides a substitute trading system for secondary trading of tZERO security tokens.

Saum Noursalehi, CEO of tZERO commented that the world of security tokens has lacked a regulated venue for secondary trading. He added that the trading of their own security tokens is the crossing of the Rubicon for the new world of digital assets. As per him, this will create liquidity, convey transparency, democratize access, and effectiveness to global markets and speed up the acceptance of security tokens.

tZERO introduced the prototype of the securities trading platform, in April 2018. As per Overstock’s CEO Patrick Byrne, the prototype intended to get an idea of the width of what tZERO premeditated to proffer.

The firm concluded its STO in August 2018. It raised around $134 million from over 1,000 global investors. It is to be noted that tZero originally introduced the STO in the form of an initial coin offering (ICO) in December 2017, having attracted strong crypto and traditional institutional interest.

In the month of March last year, tZERO’s Initial Coin Offering fell under scrutiny from the US SEC, causing Overstock’s share price to fall. Overstock had earlier filed for its ICO to be classified under Regulations D and S instead of as a conventional securities filing.

It is to be noted that tZERO filed a patent, earlier this month, for a “crypto integration platform” for trading digital assets. Notably, the patent filing describes a system that would be able to receive orders to trade “digital transactional items” from broker-dealers. It would then translate the orders into crypto orders on a digital exchange. Such items include cash equivalents, tokens, securities, digital shares, and digital assets.

Related Posts

Leave a Reply

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

HOT TOPIC

Pattaya City Deputy Mayor Discussing Partnership and Government Support for CoinAdvice Conference Scheduled to be Held on March, 2019In, , , ,
Pattaya City Deputy Mayor Discussing Partnership and Government Support for CoinAdvice Conference Scheduled to be Held on March, 2019
February 22, 20190
blockchainIn, , ,
Bitcoin Approaching Bottom, Institutional Money may “Explode Crypto”, as per Dollar Vigilante
January 14, 20190

LITECOIN NEWS

In, , ,
Cryptocurrency Mining Startup Planning to Return Money, Raised $68 Million During ICO
February 21, 20190
In, , ,
Tesla Doesn’t Intend Involving With Crypto, Says Elon Musk
February 21, 20190


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin3,948.40 0.40 % 1.28 % 10.46 %
Ethereum147.14 0.44 % 2.40 % 21.71 %
XRP0.319 0.62 % 0.28 % 7.19 %
Litecoin49.23 0.30 % 1.39 % 17.64 %
Bitcoin Cash143.59 0.40 % 1.94 % 19.13 %