In line with an official ‘press-release‘ by the company, Overstock’s cryptocurrency subsidiary tZERO revealed that the secondary trading of tZERO tokens is currently live.
As per the release, authorised investors are able to trade the security tokens via a digital securities brokerage account at Dinosaur Financial Group, that would act as a broker-dealer. Dinosaur recently partnered with tZERO subsidiary pro Securities, that provides an another commercialism system for secondary trading of tZERO security ‘tokens‘.
Explaining further chief executive officer of tZERO named ‘Saum Noursalehi’ added:
“The world of security tokens has lacked a regulative venue for secondary commercialism. The commercialism of our own security tokens is the crossing of the Rubicon for the new era of digital assets. This would produce liquidity, democratize access, bring transparency and potency to global markets along with accelerating a wide adoption of security tokens.”
Earlier in April last year, tZERO introduced the prototype of its securities commercialism platform. In line with Overstock’s chief executive officer named ‘Patrick Byrne’, the new prototype is supposed to “get an inspiration of the breadth” of what tZERO plans to offer in the coming days.
The firm recently completed its STO [security token offering] earlier in August 2018, successfully raising around $134 Mln from over around more than 1000+ world-wide investors. The corporate at first introduced the STO as an ICO [initial coin offering] in Dec. 2017, having attracted sturdy crypto and standard institutional interest.
In March, tZERO’s ICO fell under scrutiny from the U.S. SEC [Securities and Exchange Commission], inflicting Overstock’s share value to drop. Overstock had antecedently filed for its ICO to be classified below the D and S norms rather than as a standard securities filing.
Just earlier this month, tZERO filed a patent for a “crypto integration platform” for trading digital assets. The patent filing describes a system that might be able to receive orders to trade ‘digital transactional items’ from broker-dealers, thus translating the orders into crypto orders on a digital exchange. Such things embody securities, tokens, digital shares, cash equivalents along with the digital assets.