Setting the Stage for 2020
As we step into the world of financial technology, tZERO, Overstock’s blockchain subsidiary, plans to shake things up. With an eye on the future, CEO Saum Noursalehi has laid out a thrilling roadmap for the first half of 2020, aiming to launch their new broker dealer service known as tZERO Markets.
Collaboration with Regulators
Noursalehi’s letter to investors emphasizes the importance of regulatory cooperation. He shared that tZERO is diligently working with regulators, highlighting that this initiative is critical for integrating their web and mobile application experiences. Imagine a single platform where investors can trade digital securities and cryptocurrencies – sounds like a dream, right? Well, it might just be around the corner!
Past Progress: Learning from the Journey
Reflecting on their past achievements, tZERO’s Boston Security Token Exchange made headlines in October 2019 by submitting an application to the SEC. They’re not just playing footsie with regulations; they are proactively seeking approval to create a marketplace for publicly traded registered security tokens. The vision? A fully automated system that prioritizes pricing and timing – a tryst between technology and tradition.
Worthy Mentions: Allies in the Industry
While tZERO strides forward, they are in good company. Last November, Harbor received a transfer agent license from the SEC, allowing them to dive into the management of security token ownership. Their operational goals are simple but ambitious: track account balances, maintain ownership records, and distribute dividends. This is like adding wings to a bird—it’s an exciting proposition for companies looking to conduct Reg A+ offerings.
Pioneers of Regulation: Blockstack
Let’s not forget Blockstack, the trailblazer of the digital token landscape. They made headlines by being the first to snag a green light from the SEC for their $23 million investment round under Regulation A+. This wasn’t a walk in the park though; it took them ten months and a cool $2 million to secure that approval. Sounds like quite the price for validation, but it set a precedent for future digital token offerings.
Conclusion: A Transformative Era Ahead
The year 2020 promises significant strides for tZERO and its quest to bridge the gap between traditional and digital finance. By streamlining the trading experience through regulatory collaboration, we might just be on the brink of a financial revolution. Hold onto your hats, folks; the landscape of investing could soon be unrecognizable!
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