Overstock’s TZero Security Token Platform to Launch by End of Week
Opening up additional opportunities for security token trading, the Overstock exchange envisioned as far back as 2014 will finally launch this week.
Overstock’s long-awaited marketplace for security tokens, tZERO, may launch by the end of the week, based on a recent statement by CEO Patrick Byrne. Additionally, the distribution of TZero tokens to investors will also start after the custodial period.
The move to become a security token platform has helped Overstock and the tZERO project overcome previous regulatory troubles, as its ICO was put under scrutiny by the US Securities and Exchange Commission.
The new tZERO tokens are fully legalized security tokens, avoiding potential oversight as in the case of issuing a general utility token. The addition of a fully legalized security token platform will accelerate the process of creating an ecosystem for a new class of digital assets. Security tokens are much awaited, along with the need for marketplaces to ensure liquidity and price discovery.
The tZERO exchange launch may have wider repercussions for the crypto ecosystem, due to the partnership with the FLO project.
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The FLO digital asset, which helps tZERO build Digital Locate Receipts, has shown a marked spike in price following the announcements of the upcoming exchange launch. FLO picked up in the past days, from the $0.06 range to above $0.08. The asset also finds support from miners and is surrounded by a generally optimistic sentiment.
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