Overstock subsidiary tZero has announced its decision to offer up its security tokens for public trading. The trading is set to commence on August 12.
According to the blockchain-backed subsidiary’s announcement, the date signifies the end of the year-long lock period after tZero’s 2018 token offering.
Saum Noursalehi on the Topic
tZero’s CEO Saum Noursalehi shared that they are anticipating as much as 50,000 new investors, who have Overstock shares, to start trading their tokens. He added that even though the number of people who registered as of press time are still low, more investors have been reaching out and asking for details.
The tZero CEO said they are currently working on the requests of 30 to 40 broker-dealers who wanted to participate in their ecosystem. He also said that they have received inquiries from investors who have expressed excitement over the offer.
TZEROP and A-1
There are two tokens open for trading on the tZero platform – TZEROP and Overstock’s A-1 stock. The former is a private equity token that was initially issued to operate the firm’s first token offering. The latter is Overstock’s digital voting series.
The announcement from tZero also noted that token trading has been offered since the year started, although it was only open to accredited investors.
These investors were given the choice to trade security tokens via the Dinosaur Financial Group. The broker-dealer had collaborated with PRO Securities, a subsidiary of tZero, which permitted the secondary trading of the company’s security tokens.
When news of the partnership first broke out, Noursalehi commented that secondary trading would develop liquidity, open access to more people, bring efficiency and transparency to world markets, and hasten the acceptance of security tokens.