tZERO, the blockchain-meets-Wall-Street subsidiary of Overstock.com, Inc. (NASDAQ:OSTK), has informed the public that secondary trading of tZERO security tokens is now live.
Accredited investors can now trade tZERO security tokens with other accredited investors through a digital securities brokerage account at Dinosaur Financial Group, LLC.
Dinosaur has teamed up with PRO Securities, LLC, a tZERO subsidiary, and will act as the introducing broker-dealer.
2018 has been a good year for tZERO. The blockchain pioneer has released of the prototype of its planned security token trading software, completed the issuance of preferred tZERO security tokens, and teamed up with BOX Digital Markets LLC to launch the industry’s first regulated security token exchange. GSR Capital has invested in tZERO at $1.5 billion valuation back in August.
Patrick M. Byrne
A new efficient and transparent path for capital formation via blockchain is now a reality, but those who have followed our journey know that today’s announcement is just one more step down a path,” said Patrick M. Byrne, tZERO executive chairman and the CEO and founder of parent company Overstock.com. “tZERO is working toward a world where security tokens revolutionize traditional capital markets, and companies achieve trust through cryptographically-protected algorithms rather than through rent-seeking middlemen.
Saum Noursalehi
The world of security tokens has lacked a regulated venue for secondary trading,” commented tZERO CEO Saum Noursalehi. “The trading of our own security tokens is the crossing of the Rubicon for the new world of digital assets. This will create liquidity, democratize access, bring transparency and efficiency to global markets and accelerate the adoption of security tokens.
Elliot Grossman, Senior Vice President at Dinosaur Financial Group concluded:
We are impressed with what tZERO has achieved and we are looking forward to being a part of the blockchain revolution. We see this as a truly evolutionary step toward improving transactional transparency for investors, while providing an efficient and secure alternative to over-the-counter trading or a listing on one of the legacy stock exchanges for companies seeking to raise capital.