Overstock will make tZERO security tokens available for retail investors

The retail blockchain division of the giant Overstock plans to open retail investors the opportunity to trade tZERO security tokens, reports CoinDesk .

According to the head of tZERO Saum Nursalehi, this opportunity will open on August 12. Previously, access to security tokens was open only to accredited investors.

Nursalehi also added that his company expects at least 50 thousand new investors holding Overstock shares.

“We had many broker dealers, about 30 or 40, who contact us because they want to participate in this ecosystem. We are working on these requests. Investors also ask us. They are excited, they want to understand how it works, ”he added.

Currently, only two tokens are available for trading on the tZERO platform. The first of these is the TZEROP equity token, issued to control the initial placement of coins. The second is the A-1 Series Digital Preference Shares.

“In the world of security tokens, there is no regulated place for secondary trading. Trading with your own security tokens marks a kind of transition of the Rubicon to the new world of digital assets. This will create liquidity, democratize access, give transparency and efficiency to global markets and accelerate the adoption of tokens with the properties of shares, ” Nursalehi said.

During the summer, the average daily trading volume on the tZERO platform ranged from a few thousand dollars to a peak of $ 245 547, reached on July 23. It was previously assumed that third-party companies will be able to issue their security tokens on the platform, but so far no one has yet done so. Nevertheless, negotiations are underway on this issue with Dubai's Emaar, in whose assets the Burj Khalifa skyscraper, as well as with Vision Tree.

According to Overstock reporting , tZERO's net loss for the last quarter amounted to $ 10 million, which is almost two times more than in the corresponding period last year (- $ 4.6 million).

Earlier, BlockchainJournal reported that tZERO raised only $ 5 million of the planned $ 400 million. Prior to this, the company was unable to obtain $ 100 million from the Chinese investment firm GSR Capital and Singapore-based private equity fund Makara Capital.

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