An official statement published January 24th has confirmed that secondary trading of security tokens on, is live.
Now, accredited investors have the ability to trade security tokens through brokerage accounts at Dinosaur Financial Group. Dinosaur, which is based in New York, will act as a broker-dealer.
Dinosaur has formed a partnership with PRO Securities, a subsidiary of tZERO. The partnership offers an “alternative trading system” that provides access to secondary trading of security tokens. According to the statement, trading will initially only be available during market hours.
“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.”
— tZERO (@tzeroblockchain)
tZERO CEO Saum Noursalehi believes that previous to the launch of tZERO’s platform, “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,” he continued. “This will create liquidity, democratize access, bring transparency and efficiency to global markets and accelerate the adoption of security tokens.”
Digital security exchanges, such as , a subsidiary of , Inc., were founded to facilitate and pioneer the future of .
The Unicorn: tZERO
— Mike Rogers, CPA (@MillennialMike7)
News that the platform will soon be launched . At the time, Overstock CEO Patrick Byrne said that the company was “ready to hit the button and go live today, but was waiting a few more days to process user signups.”
tZERO’s Prototype Was Launched in May, But the Project Started in 2014
A , but the platform’s history extends farther back than last year. The Overstock subsidiary was originally founded all the way back in 2014.
When the prototype was launched, Byrne commented that “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.”
Then, “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.”
Earlier this month,, which were purchased by more than 1000 investors during the platform’s token sale in August of 2018.
Meanwhile, Overstock is seeking to make a complete transition into the blockchain sphere. In November, Byrne announced that the company plans to sell its decades-old online retail businesses over the next few months as its focuses on becoming a blockchain business.
Be First to Comment