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Screenshot of a breaking news alert e-mail from Q2 2017
tZERO, the blockchain-meets-Wall-Street subsidiary of Overstock.com, Inc. (NASDAQ:OSTK), has just announced the release of the prototype of its planned security token trading software.
Overstock.com and tZERO CEO Patrick Byrne said:
In August 2015, Overstock used tZERO’s blockchain technology to issue what we believe was the world’s first private blockchain security, a $5 million bond to First New York Securities. In December 2015, Overstock filed with the SEC an S-3 registration statement to register a preferred stock digital security utilizing tZERO’s blockchain technology, which was subsequently declared effective in December 2016.
Overstock used that S-3 to issue what we believe was the world’s first public blockchain security, OSTKP, utilizing tZERO technology once again. Now we are unveiling tZERO’s security token trading software: the astute viewer of our progress can look at this, and the collection of strategic assets we have assembled, and get an idea of the breadth of what we intend.
Technologically speaking, we anticipate the security token trading software will be ready to trade security tokens in May, subject to developing further regulatory clarity,” commented tZERO president Joe Cammarata. “We have been working hard on getting this prototype right and look forward to user feedback.
We’re making history and we thank everyone involved in creating this new digital ledger platform. We also want to thank our customers; we’re doing this together.