Overstock, a US-based online retailer has planned to make its security token cryptocurrency exchange, tZero public. The trading will be operational from Aug. 12.
The crypto platform became operational since January. However, it was limited only for accredited investors such as wealthy individuals and institutions trading. Currently, there are only two cryptocurrencies on the platform. There’s tZERO’s private equity asset, TZEROP, which came to be in its security token offering. Then, there’s the Overstock-specific A-1 preferred stock. It went live on the platform in June. This one is an evolution of Overstock’s initial blockchain stock from back in 2016. In order to attract more people to the platform and improve day trading numbers, the exchange is planning to bring in more shares for every shareholder on the space. As per the source, it will come in the form of dividends and take place in the next few months.
The CEO of the crypto platform, Saum Noursalehi said this will be a nice bonus to their shareholders. Making tZero public will serve the purpose of getting a lot of adoption. Moreover, there is a lot of focus on liquidity. According to him, getting initial adoption and additional brokers to the table is key.