Overstock’s tZero Opens Token Trading to Public on August 12

The tZero market, one of the first platforms for security tokens, will open for retail trading within days.

Overstock, which launched the first functional security token exchange in the US, will open tZero to the wider public within days. The exchange will also trade the native tZero token, which ends its lockdown period within days.

Security token offerings briefly took over ICOs at the beginning of 2019, to solve the problem of considering tokens as unregistered securities. However, STOs were few and far between, and usually not open to retail investors. Even the tZero and Overstock STO is still under the investigation of the US Securities and Exchange Commission.

The tZero market is also still marking quarterly losses, based on the latest report. The exchange has brought $10 million loss in the second quarter of 2019, deepening the net loss of Overstock.

The exchange will offer the Bitsy wallet, acquired in a series of deals in 2018, as a way to store digital assets. Bitsy may also serve as a gateway between fiat currencies and digital assets. But the Bitsy launch as the official Overstock wallet is delayed until the wallet operator receives a money transmitter license. Overstock has also applied for BitLicense, the business license to operate in the state of New York.