TZero unveils prototype of security trading platform
TZero, the blockchain subsidiary of Overstock.com Inc., has announced the prototype of its planned security token trading software.
A demo for the new platform reaches a much-anticipated milestone, according to a press release.
tZero is requesting that potential users review the video and provide feedback to firstname.lastname@example.org.
Patrick Byrne, CEO of Overstock.com and tZero issued a statement in a press release about the prototype:
In August 2015, Overstock used tZero's blockchain technology to issue what we believe was the world's first private blockchain security, a $5 million bond to First New York Securities.
In December 2015, Overstock filed with the SEC an S-3 registration statement to register a preferred stock digital security utilizing tZero's blockchain technology, which was subsequently declared effective in December 2016.
Overstock used that S-3 to issue what we believe was the world's first public blockchain security, OSTKP, utilizing tZero technology once again.
Now we are unveiling tZero's security token trading software: the astute viewer of our progress can look at this, and the collection of strategic assets we have assembled, and get an idea of the breadth of what we intend.
A private offering for the tZero security token commenced in December. On March 1, tZero announced that it had extended the offering until May 14.
"Technologically speaking, we anticipate the security token trading software will be ready to trade security tokens in May, subject to developing further regulatory clarity," tZero President Joe Cammarata said in the release. "We have been working hard on getting this prototype right and look forward to user feedback."