tZero ATS Kicks Off Trading of Overstock Digital Voting Series A-1 Ticker OSTKO

OSTKO is the 2nd Digital Security to Trade on PRO Securities ATS

Overstock subsidiary (NASDAQ:OSTK) tZERO has commenced trading of “Digital Voting Series A-1 Preferred Stock,” ticker OSTKO (formerly OSTKP). The long-anticipated security token trading on the marketplace represents an important step forward for blockchain focused tZero and crypto visionary Patrick Byrne. The trading of the digital asset was leaked several weeks ago in an email seen by Crowdfund Insider.

The digital asset is trading on the “PRO Securities ATS,” an SEC-registered alternative trading system (ATS) operated by PRO Securities, a tZERO subsidiary and a broker-dealer.

An ATS is similar to an exchange in the US but is regulated somewhat differently. There are dozens of ATSs in the US – perhaps the best-known being OTC Markets. tZero was the first crypto focused platform to receive approval for an ATS license and many people in the security token industry view tZero as a trailblazer.

OSTKO is the second digital security trading on the PRO Securities ATS, following the commencement of secondary resales among accredited investors of tZERO’s security tokens in January 2019.

tZero said that Dinosaur Financial Group, a subscriber to PRO, is the introducing broker-dealer for the Digital Voting Series A-1 Preferred Stock OSTKO.

Investors may now trade the digital asset with other investors only through a digital securities brokerage account at Dinosaur.

Clearing and custody is provided by Electronic Transaction Clearing and the transfer agent for OSTKO Digital Voting Series A-1 Preferred Stock is Computershare.

Saum Noursalehi, CEO of tZERO, said this is a key step in their ambition to attract a growing pool of tokenized assets such as private companies, real estate, debt and more.

In December 2016, Overstock issued the first SEC-registered digital security in the world, the Blockchain Voting Series A Preferred Stock (OSTKP), using tZERO-developed technology.

The new shares were issued in exchange for the prior version.

tZero expects to list and trade other digital assets in the coming months.

Earlier today, tZero, via a subsidiary, announced the launch of a crypto wallet and virtual currency exchange service supporting Bitcoin and Ether.

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