tZERO Launches Public Trading of Token Stocks on August 12

The subsidiary of retail giant Overstock tZERO plans to open on the platform trading of token-shares to the public on August 12.

According to tZERO CEO Saum Nursalehi, August 12 marks the end of the one-year token blocking period after the completion of their sale in 2018.

The company expects that 50,000 investors who have already bought Overstock shares will start trading their tokens-shares on the platform:

“We had a lot of broker-dealers, about 30 or 40, who said they wanted to participate in this ecosystem […] We are working on these requests. Investors are contacting us. They are excited and trying to understand a new proposal. ”

Two tokens will be available for trading on the tZERO platform. One of them is a private token-share called TZEROP, which was issued to manage the initial offering of company tokens. Another is the preferred A-1 series token for digital voting.

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tZERO has been offering token trading since January, but the option was only available to accredited investors. Then it was reported that investors had two options – create a brokerage account with a broker-dealer and partner of tZERO Dinosaur Financial Group, or keep tokens in a personal wallet, which is subject to a two-stage verification process.

In the spring, the company reported that Overstock tZERO will release in June
application for trading bitcoin and ether. In addition, tZERO received
patent for the technology of settlement of settlements on tokenized assets in the blockchain.