tZERO, the blockchain-meets-Wall-Street subsidiary of Overstock.com has a prototype of its planned security token trading software. The demo video released for tZERO’s new platform reaches a much-anticipated milestone.
Overstock.com and tZERO CEO Patrick Byrne said, “In August 2015, Overstock used tZERO’s blockchain technology to issue what we believe was the world’s first private blockchain security, a $5 million bond to First New York Securities. In December 2015, Overstock filed with the SEC an S-3 registration statement to register a preferred stock digital security utilizing tZERO’s blockchain technology, which was subsequently declared effective in December 2016. Overstock used that S-3 to issue what we believe was the world’s first public blockchain security, OSTKP, utilizing tZERO technology once again. Now we are unveiling tZERO’s security token trading software: the astute viewer of our progress can look at this, and the collection of strategic assets we have assembled, and get an idea of the breadth of what we intend.”
“Technologically speaking, we anticipate the security token trading software will be ready to trade security tokens in May, subject to developing further regulatory clarity,” said tZERO president Joe Cammarata. “We have been working hard on getting this prototype right and look forward to user feedback.”