Overstock (NASDAQ:OSTK) is circulating a letter to shareholders in the Series A preferred shares telling investors they are transitioning to tZero securities token trading platform.
To facilitate the transition, Overstock will need to issue new shares and the company must receive individual shareholder approval.
The difference between the old analog version and the digital securities is the shares will not be subject to restrictions on ownership and will be tradable on tZero.
This most recent announcement is part of an extensive odyssey tZero has endured as it becomes one of the first blockchain based trading venues. tZero is widely recognized as the trailblazer in the US security token sector.
The letter, embedded below, requires shareholders to open a brokerage account with Dinosaur Financial, a relationship that was previously announced.