Overstock Officially Opens Its tZERO Security Token Platform For Trading via PRO Securities System
tZERO, Overstock.com’s awaited security token trading platform has finally begun trading this Thursday.
tZERO Security Tokens Begin Live Trading | Business Wire https://t.co/KS0A7CooBr
— tZERO (@tzeroblockchain) January 24, 2019
Overstock is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers.
The announcement notes that accredited investors can trade the security tokens through a digital securities brokerage account at Dinosaur Financial Group. Dinosaur Financial Group essential acts like a broker-dealer. They have partnered with tZERO’s subsidiary PRO Securities.
tZERO integrates regulations directly in the token creation protocol. They offer enterprise-level blockchain solutions including token issuance, management, and trading. This strategy saves businesses seeking to integrate blockchain technology huge amounts on research, development, and regulatory costs.
It cryptographically secures distributed ledgers to streamline existing market systems. The integration of blockchain technology creates increased auditability, transparency, and efficiency in traditional market processes.
CEO of tZERO Saum Noursalehi said:
“The world of security tokens has lacked a regulated venue for secondary trading. 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.”
Dinosaur Financial senior VP Elliot Grossman stated:
“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.”
Earlier this month, BitcoinExchangeGuide had reported about tZERO winning a new patent to integrate legacy trading systems with virtual currencies and crypto technology. The information was released by the U.S. Patent and Trademark Office.