tZERO, a blockchain subsidiary of Overstock (NASDAQ: OSTK), recently announced the tZERO ATS recorded its strongest month ever, transacting over 423,000 digital securities, a four-time increase compared to May 2019. Year-to-date through May, the volume is up nearly 50% compared to the same period last year.
According to tZERO, the tZERO ATS has reportedly accounted for more than 95% of all security token volume last month, underscoring the company’s position in the digital security ecosystem. The tZERO ATS experienced record growth in investors with access to its trading platform last month, which was driven by new investor accounts with existing subscribers and new broker-dealer subscribers coming on board. The tZERO ATS currently has three active subscribers and is in active discussions with additional progressive broker-dealers.
tZERO also reported that the tZERO Crypto app, separately operated by tZERO’s subsidiary tZERO Crypto, Inc., increased its user base by 15% last month, the highest monthly account increase to date. Through May 31, 2020, user growth is up 85%.
Meanwhile, tZERO was recently recognized as the “Best Blockchain Solution of the Year” by Financial Technologies Forum and FTF News. As previously reported, tZERO CEO, Saum Noursalehi, shared the exciting news by stating:
“We are proud to be recognized as Best Blockchain Solution of the Year, and we look forward to continuing to advance the integration of DLT to advance capital markets.”
tZERO seeks to utilize distributed ledger technology (DLT), or blockchain, to modernize Wall Street.