Home Altcoins News tZero Completes Preferred Security Tokens Issuance – Breaking Speed Of Sound Again

tZero Completes Preferred Security Tokens Issuance – Breaking Speed Of Sound Again


tZero, the subsidiary of Overstock, an SEC compliant ATS has completed its security token distribution.

The alternative trading system has raised $134 million in STOs early in August of 2018.  More than 1000 global investors participated in the offering.  In a press release on October 12, 2018, the company stated that they have completed the issuance of the preferred equity tokens of tZero.  Of note, the token generation event is also complete.

The company stated that “tZERO has deployed the token contract and minted its security tokens and furthered to issuing it to tZERO custodial wallet on behalf of its investors on October 12, 2018,” the company further stated, “In order to ensure compliance with federal regulations, and in accordance with token terms, the tokens will be locked up in custodial wallets until January 10, 2019, which is (90 days after issuance). The sooner the 90-day period expires, tZERO will offer its holders the opportunity to trade the tokens, in pursuance of private resale transactions with other accredited investors.  tZERO is developing a platform with a broker-dealer partner for the purpose.”

The company will be deploying its approved trading platform by August 6, 2019 if all goes well.  This will enable token holders to resell tokens to the non-accredited investors. tZERO will help with registering securities in order to enable secondary trading at international security exchanges, and as well at BOX Options Exchange, which is a building that is in partnership with BOX Digital Markets.

Patrick M. Byrne, the tZERO executive chairman, CEO, founder of Overstock.com stated, that they issued the first public cryptosecurity OSTKP in year 2016, which he remarks was a “Chuck Yeager Moment.”  He expressed the excitement by stating that they broke the “speed of sound”

Of note, OSTKP was the first public cryptocurrency in the whole world.  He further issued a fancy statement that “Today is our Yuri Gagarin moment” in an attempt to express his elated feelings over leaving behind the confines of the familiar traditional capital markets to the new market that is powered by blockchain. The idea of being able to avoid middlemen who might even be bent by mischief add to the excitement.

Byrne further thanked all the investors and colleagues who shared their philosophies with respect to securities trading, which is mostly based on trust, transparency and the integrity by making use of the cryptography dependent technologies.

Saum Noursalehi, the CEO of tZERO, was excited about it being the first STOs on a decentralized public network that has been executed in complete compliance with the US securities laws. He further adds that it is an exciting milestone for tZERO.

Leaseum Partners is yet another security token that comes at low cost for investors on regulated crypto exchanges and interestingly bypassing the 5 year lockup period.


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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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