TZERO Token Trading to Go Live in 3 Days

Wilfred Michael 

Wilfred Michael

News reporter

09 August 2019,
15:06
TZERO Token Trading to Go Live in 3 Days

Leading capital markets reformer, TZERO announced Thursday that it would soon make trading for its security token available to retail investors, marking the end of a one-year lock-period for the digital asset following a token offering in 2018.

According to the announcement shared with Coindesk, the TZERO trading platform has been live since January but only offered its services to accredited investors.

However, the latest development means that starting August 12th, 2019, any member of the public can use the platform as well as trade tokens representing ownership in the Overstock subsidiary.

Sharing his thoughts on the update, TZERO CEO, Saum Noursalehi told the news publication that following the end of the lockup period and the full rollout of trading, they’re expecting 50,000 holders of the TZERO token to begin trading.

Beyond that number, he also mentioned that they'd had a lot of broker-dealers, about 30 or 40, reach out to the firm asking for guidance on how to get involved in the new ecosystem.

Regarding those inquiries, he said,

“We’re working on these requests. Investors have been sending questions as well. They are excited, and they are trying to understand it.”

Noursalehi also clarified that there are currently two TZERO affiliated tokens that users can trade. That is, TZEROP, the private equity token used for the initial token offering and another token for Overstock’s digital voting series A-1 preferred stock.

Undoubtedly, TZERO’s rollout of trading marks another significant step in the company’s effort to make global capital markets accessible to all categories of investors.

Aside from a move to share TZERO token to shareholders in the parent company, Overstock, we reported last month that CEO Patrick M. Bryne encouraged those investors to explore the security tokenization industry.

Bryne believes that the securities tokenization industry would be worth over $900 billion in the future.

 

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