Overstock.com’s blockchain subsidiary tZero on Thursday announced the listing of the Digital Voting Series A-1 Preferred Stock on its alternative trading platform PRO Securities ATS.
This is the second listing on and will be traded under the ticker symbol of OSTKO (formally OSTKP).
A regulated platform for securities token
tZero to facilitate secondary trading of securities tokens. However, a prototype of tZERO’s trading platform was originally launched in April of 2018, but the platform’s history extends farther back than last year. The Overstock subsidiary was originally founded all the way back in 2014.
The company partnered with New York-based broker-dealer Dinosaur Financial Group to allow accredited investors the ability to trade security tokens through its brokerage accounts. The platform is backed by tZERO’s security token trading technology.
“Dinosaur Financial Group, a subscriber to PRO, is the introducing broker-dealer for the Digital Voting Series A-1 Preferred Stock OSTKO,” the official announcement stated. “Investors can now trade the Digital Voting Series A-1 Preferred Stock OTSKO with other investors only through a digital securities brokerage account at Dinosaur.”
Clearing and custody services to the brokerage clients will be provided by Electronic Transaction Clearing, while Computershare will act as the transfer agent.
OSTKO is the second listing on the platform as with the launch of the platform it initiated the secondary trading for tZERO’s security tokens.
Commenting on the new listing, Saum Noursalehi, chief executive of tZERO, said: “OSTKO is the second asset to trade on the PRO Securities ATS. This is a key step in the drive to attract additional assets, such as private companies, real estate, debt instruments, and commodities.”
Meanwhile, tZero also for trading cryptocurrencies on its platform. Though the application is only available for iOS users, for now, the Android version is under development.
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