Overstock-daughter tZERO: Security Token for the first time on the secondary market tradable

the Overstock-daughter tZERO has taken a further step in the direction of the Security-Token-trade space. Since the 24. January is tZERO investors now able to trade the Security Token on secondary markets. The company announced on 24. January in a press release known.

By Christopher clover
On the 25. January 2019BTC$3.554,66 0.14%part Facebook Twitter LinkedIn xing mail

In August of 2018, ended the Security Token Offering (STO) of tZERO. Approximately 1,000 investors participated with a total of US $ 134 million. The issuance of the Token ended in October 2018. The mandatory 90-day Lock-up period, in the tZERO, the Token held in the name of the investors followed. This waiting period ended on 10. January. The end of the Lock-up period meant for accredited investors, however, need to decide where you would like your Token to keep: In the case of a Broker-Dealer and tZERO Partner Dinosaur Financial Group or in a personal Wallet, according to tZERO, a two-stage verification process.

investors are free to liquidate the tokenized tZERO shares. This also happens on the Dinosaur Financial Group. This in turn works together with the tZERO, a subsidiary of PRO Securities. PER Securities an “alternative trade Token, according to tZERO system for creating access to the market for secondary trading with the tZERO Security.”

The “Crossing of the Rubicon”

tZERO plans in the medium term, the creation of a trade place for Security and Equity in the Token. The own Token is now on the secondary market, should pave the way for Trading of a further tokenized Assets such as commodities or real estate. This path should eventually lead to a world “in the Security Token, the traditional capital markets and revolutionize,” says Overstock CEO and tZERO-member of the Board Patrick M. Byrne in the press release. So far, there would have been no place for the regulated secondary trading of the Security Token, writes the hem Noursalehi, CEO of tZERO. And after:

“The Trading with our own Security Token is the Crossing of the Rubicon for the new world of digital Assets. This will create liquidity, access democratize, transparency and efficiency on the world markets and the introduction of Security tokens, speed up.“

The trade is limited for the time being, on the in-house Token and can be made (unlike “ordinary” crypto-exchanges) only during the exchange trading hours – a sacrifice on the Altar of the regulators.