tZERO, a majority-owned cryptocurrency subsidiary of Overstock.com, an e-commerce giant, in a recent press release statement on Thursday, Jan. 24th 2019, announced that secondary trading of tZERO tokens is now live.
Further, the company also announced that the accredited investors will now through Dinosaur Financial Group, an intermediary acting as broker-dealer, have the ability to trade the security tokens. Dinosaur entered a partnership agreement with PRO Securities, a tZERO subsidiary, which with an alternative trading platform offers secondary trading of tZERO tokens.
According to Saum Noursalehi, CEO, Tzero, security tokens always lacked a regulated medium for secondary trading, telling that the trading of its own security tokens is the crossing of the Rubicon – an irrevocable step – for the new world of digital assets, which creates liquidity, democratize access, pushes security tokens on an accelerated adoption path, and ensure a transparent and efficient global market.
Last year, in Apr. 2018, tZERO announced the launch of its securities trading platform prototype. According to Patrick Byrne, CEO, Overstock, the idea behind the prototype launch was to “get an idea of the breadth” of what tZERO has to offer. Later, in Aug. 2018, the firm raised $134 million from more than 1,000 investors in security token offering (STO). The firm, having introduced STO in the form of an initial coin offering (ICO) in Dec. 2017, has gained much attraction from a range of crypto trading institutions.