Overstock is set to open up trading on its security token trading platform, tZERO, to all retail traders.
Now, everyone will be able to trade on the platform starting Aug. 12 as the one year lock-up period for tZERO’s 2018 security token offering (STO) will pass. Notably, the platform already went live in January but only accredited investors, wealthy individuals and institutions have been allowed to trade on it until now.
Saum Noursalehi, CEO of tZERO stated that the company is expecting to get on-board as many as 50,000 new investors, who have already bought Overstock shares, to begin trading their digital security tokens.
Available Tokens for Trading
At the moment, only two tokens are available on the trading platform: tZERO’s own private equity token, TZEROP, which was issued in the STO.
The second is Overstock’s digital voting series A-1 preferred stock, which was listed in June. This is first-of-its-kind blockchain preferred stock the company issued in 2016.
Noursalehi further commented “The world of security tokens has lacked a regulated venue for secondary trading. The trading of our own security tokens is the crossing of the Rubicon for the new world of digital assets. This will create liquidity, democratize access, bring transparency and efficiency to global markets and accelerate the adoption of security tokens.”
- ‘tZERO‘ has been recently awarded a patent for a process of recording trading data on public blockchains. With the technology behind this patent, tZERO is able to verify the existence of previous trades and simultaneously produce an auditable and immutable record of those transactions.
- tZERO has entered a partnership with the producers of the upcoming movie “Atari: Fistful of Quarters” to tokenize the first major theatrical motion picture.