Overstock’s tZERO Issues New Digital Security 

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Fri, 06/28/2019 - 06:03
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Alex Dovbnya
Overstock’s tZERO once again proves that it’s one of the leaders in the realm of financial innovations 
Overstock’s tZERO Issues New Digital Security 
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Overstock, the retail giant that turned into a cryptocurrency company, has recently announced the launch of the Digital Voting Series A-1 Preferred Stock (Nasdaq: OSTKO). 

It will be traded on the PRO Securities ATS, a regulated tZERO subsidiary that is striving to bridge the gap between the traditional securities market and Blockchain.    

Related
E-Commerce Giant Overstock to Start Selling Bitcoin in Q1 2019

tZERO’s second digital security   

Investors who are willing to trade the new product have to open a digital securities brokerage account with Dinosaur. tZERO inked a partnership with the New York-based brokerage firm in February.    

Back in 2016, tZERO introduced its first public Blockchain stock (OSTKP). The company raked in $10.9 during its Blockchain stock issuance.

“Today, the majority of Series A OSTKP preferred shares have been converted into the new Digital Voting Series A-1 Preferred Stock, OSTKO, so that they can be compatible with tZERO’s latest technology,” Overstock CEO Patrick Byrne said.

Related
Overstock’s tZERO Starts Sending Its Security Tokens to Investors After Raising $134 Mln Last Year

Overstock’s crypto bet

Overstock.com, the first major retail to start accepting Bitcoin, stepped up its crypto game by becoming the leader in the security tokens niche, which is one of the most exciting manifestations of Blockchain.

According to Byrne, trading shares on Blockchain can prevent such practices naked short-selling (when traders manipulate the market with the help of stocks they don’t actually own).

Unlike ICOs, STOs are fully compliant and regulated, which ensures investor protection.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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