US-based Internet giant Overstock announced the launch of the much anticipated security token trading platform tZERO. Overstock has been developing the platform since 2014.
Major online retailer Overstock has finally launched tZERO – a platform allowing for trading security tokens. The company posted the announcement on the matter on Twitter:
“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.” https://t.co/Xh0MuT6XOJ pic.twitter.com/NA83wSa8RK
— tZERO (@tzeroblockchain) January 25, 2019
The platform is open to accredited investors who can now sign up to trade tZero tokens. The registration will be possible through Dinosaur Financial Group which is acting as the “introduction” broker. Meanwhile, Overstock’s subsidiary Pro Securities LLC provides the alternative token trading system.
As noted by CoinDesk, the launch of the platform has been anticipated by the crypto community since the first announcement in 2015. Last August saw tZERO closing its ICO with $134 million raised in the process.
CoinDesk quoted some investors as complaining about lengthy registration process which takes up to several days.
Overstock is known to be one of the first major online retailers to begin accepting cryptocurrency payments as early as in 2014. The first rumors about the company’s plans to launch tZERO platform started surfacing about the same time.
Hong Kong-based company GSR Capital had earlier hired tZERO team to develop a smart contract and a stablecoin for cobalt trading settlements.