tZERO, a subsidiary of Overstock (NASDAQ:OSTK), has received approval from the Financial Industry Regulatory Authority (FINRA) to offer retail brokerage services for digital securities and provide issuers with investment banking and placement agent services in connection with capital raising activities.
tZERO CEO Saum Noursalehi called the announcement an important milestone for the company that furthers their vision of creating a robust market for private securities.
“Through tZERO Markets, we will establish a direct relationship with our customers, while also offering a streamlined experience for onboarding and trading digital securities. We expect tZERO Markets to launch its services in a couple of months.”
tZERO notes that private markets have grown in importance in recent years and include a range of asset classes including early-stage firms, funds, real estate, and more. tZERO wants to become the leading marketplace for digital securities including more esoteric offerings.
tZERO said the first iteration of its market will be web-based followed by both iOS and Android application – subject to regulatory review. At launch, tZERO will commence onboarding US retail investors but plans on expanding globally.