Inside The Dinosaur-tZERO Partnership – How It Will Curb Operational Risk And Enhance Settlement
Dinosaur Financial Group, popular as Dinosaur, has entered into a partnership with a Blockchain innovations behemoth, tZERO Group. Dinosaur, a brokerage company that actively operates in New York’s capital markets industry, will leverage the innovative expertise of tZERO in its operations.
Acting as a broker-dealer, Dinosaur will help those buying tZERO’s tokens to use its broker accounts. The partnership is more than a win-win situation as it will also fortify the decentralized network’s quest to fully comply with the securities laws. Primarily, the Blockchain company will be tasked with coming up with the measures that would aid in issuance, trading, and settlement.
Speaking about the partnership, Dinosaur Group’s Managing Director in charge of Equity Trading, Elliot Grossman said that the honor of being part of tZERO’s tokenization was a milestone. According to him, the fact that Dinosaur and tZERO are entering into a broker-dealer relationship at a period when Blockchain is having a profound impact on the securities industry makes him proud. He is confident that this evolutionary move would not only reduce the operational risk, but also speed up the normal process of clearing and settling transactions.
On his part, the CEO of tZERO, Saum Noursalehi, expressed his satisfaction on the partnership. To him, Dinosaur is a company that aligns with his company’s vision of making the global markets more transparent and efficient.
About Dinosaur Group
Dinosaur is one of the largest brokerage and investment institutions. It was established in 2001, but has grown to be among the leading companies in the investment banking sector. At the helm of its management are Elliot Grossman and his father, Glenn Grossman who both boast lots of experience in the global electronic market.
The secret behind this company’s excellence lies deep beneath the cutting-edge technology it employs in its operations and the international networks it has with global partners. At the moment, it has branches in London, Madrid, and Milan, although it’s eyeing the American, African, the Middle Eastern and European markets.
Founded by Patrick Byrne in 2014, tZERO is a subsidiary of Overstock.com and Medici Ventures group of companies that focuses on innovation and adoption of Blockchain in FinTech. It was one of the first Blockchain-powered companies to provide security tokens, although it still maintains its objective of introducing transparency to the financial markets. It, however, isn’t a broker-dealer nor offers any brokerage services.
This Salt Lake-based online retailer is many people’s go-to retailer for almost every home improvement product, including furniture, rugs, and décor. Additionally, many buy their jewelry, electronic products, clothes and pretty much everything from this online store.
Besides being a hub of affordable products, Overstock.com allows its customers to choose from the hundreds of thousands of 3rd party products on offer. It is for among these reasons that Forbes ranked it among 100 most trusted companies in 2014.