tZERO, a digital asset focused subsidiary of Overstock (NASDAQ:OSTK), has reported on August 2020 trading regsults in digital securities. According to tZERO, the marketplace recorded its strongest month ever in August 2020.
tZERO states that it traded over 2.3 million digital securities, a 21x increase compared to August 2019, and transacted nearly $22.0 million of securities, exceeding the previous record of $7.6 million set in July.
Year-to-date through August, the total volume of shares traded on the tZERO ATS is said to have increased by over 300% compared to the same period last year, and the total dollar volume for the same period is up about 684%.
The company also provided some information on the tZERO Crypto App stating that users increased by 11% during last month.
The tZERO Crypto app, separately operated by tZERO’s subsidiary, tZERO Crypto, Inc., increased its user base by over 11% last month. Through August 31, 2020, user growth is reported to be up 143% for 2020. While tZERO said that dollar volume is up it did not provide exact numbers.
Crowdfund Insider has previously reported in growing digital securities trading – largely due to trading in $OSTKO – the digital security of Overstock.
tZERO CEO Saum Noursalehi pointed to the record trading volume and the addition of the St. Regis Aspen (ASPD) digital security that commenced trading in August:
“These wins, coupled with FINRA’s approval of tZERO Markets, are exciting, and we look forward to offering our crypto customers the opportunity to open brokerage accounts at tZERO Markets. Overall, our recent accomplishments underscore the investor demand for digital assets.”