The Security Token exchange tZERO announced that it will allow the public to participate in related transactions starting August 12. Currently, tZERO only has two types of security tokens available for trading, including the digital voting series A-1 preferred stock of its parent company Overstock. tZERO expects 50,000 investors to participate in the transaction.
In January of this year, tZERO’s trading platform was launched, but only approved investors, that were, rich or institutional investors. However, in order to increase the trading activities on the platform, tZERO decided to open to the public, and Chief Executive Saum Noursalehi revealed to CoinDesk that the move was in response to concerns about liquidity.
In addition to Overstock’s preferred stock, there is another security token available for trading on the platform, which is tZERO’s private stock token TZEROP, which was in the form of STO (security token offering) last year. The lock-up period will end next week. Overstock also plans to issue more of this type of digital shares to shareholders in the next two months as a method of paying dividends. Noursalehi believes that this practice is a good dividend for shareholders and allows more people to use tZERO. Platform.
According to Overstock’s second-quarter results, tZERO lost more than the same period last year, from $4.6 million to $10 million. Noursalehi pointed out that although there are not many investors registered at the moment, it is believed that they have attracted their interest within the brokerage group. Currently, about 30 to 40 brokers have contacted them and want to join the tZERO ecosystem. In recent months alone, the daily transaction volume has ranged from a few thousand dollars to a maximum of $246,000.