Hong Kong PE firm to invest in Overstock’s tZERO at $1.5bn valuation

GSR Capital is expected to invest in Overstock’s tZERO, valuing the blockchain platform at $1.5 billion. The full investment up to $404 million is upsized from a prior letter of intent from Q2 and consists of a mix of equity and tZERO security tokens. tZERO CEO Saum Noursalehi said in a statement: “The tokenization of securities has the potential to disrupt global capital markets responsible for moving hundreds of trillions of dollars. Together with our partners, we will globalize our blockchain-based platform, bringing more efficiency, liquidity, and trust to capital markets.”

Read the full release

 

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