Overstock’s tZERO security tokens begin live trading

Investors can now trade tZERO security tokens through a digital securities brokerage account at Dinosaur Financial Group LLC, according to a recent press release.

The news comes after Dinosaur announced its partnership with PRO Securities LLC, a subsidiary of tZERO.

This development presents an alternative trading system to offer market access for secondary trading of tZERO security tokens. Initially, this will only be available during market hours.

tZERO was founded back in 2014 with the aim of utilising blockchain technology to revolutionise Wall Street so that “financial processes could become less beholden to traditional institutional market structures.”

PRO Securities is registered by the Securities and Exchange Commission (SEC) and serves as a broker-dealer. It is wholly owned by tZERO.

The Dinosaur Financial Group LLC is a broker-dealer that is also registered with the SEC. It is an independent financial services firm located in New York.

Executive chairman of tZERO and CEO of Overstock Patrick Byrne stated: “tZERO is working toward a world where security tokens revolutionize traditional capital markets, and companies achieve trust through cryptographically-protected algorithms rather than through rent-seeking middlemen.”

tZERO provided the technology behind one of the “world’s first public” digital assets, OSTKP, in 2016. It raised £134 million from over 1,000 investors during its highly publicised Security Token Offering (STO) which ended in August 2018.

Reportedly, following this “historic milestone,” tZERO has laid the foundations for the “trading of other tokenized assets, such as debt instruments, commodities, and real estate.”

Senior vice president at Dinosaur Financial Group, Elliot Grossman, said: “We are impressed with what tZERO has achieved and we are looking forward to being a part of the blockchain revolution. We see this as a truly evolutionary step toward improving transactional transparency for investors.”

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