Many have been anticipating this event, and now it has finally happened; Overstock.com’s security token trading platform, tZERO, officially began live trading on the afternoon of January 24. This paves the road for the trading of other digital assets on this platform.
According to a press release announcing this news, accredited investors can trade tZERO tokens through Dinosaur Financial Group LLC, which will act as the introducing- or broker-dealer. Pro Securities LLC, a tZERO subsidiary, will provide the alternative trading system (ATS) for secondary trading of tZERO security tokens. Investors in the tZERO token offering have long been waiting for the platform’s launch. The platform was first unveiled in 2015, but it was not until January 18 that Overstock CEO Patrick Byrne announced that the platform would be launched this week. This announcement took place during The North American Bitcoin Conference in Miami. It is worthwhile noting that a prototype of the securities trading platform was introduced by tZERO in April 2018. A security token offering (STO) was introduced, which concluded in August 2018. The sale raised a total of $134 million from more than 1000 investors.
The private equity firm GSR Capital has hired the services of tZERO to develop a token for trading cobalt. Eventually, this may lead to the creation of a trading platform in Asia similar to the one launched by tZERO. In fact, tZERO has just recently filed a patent for a system for trading digital assets, referred to as a “crypto integration platform.”