CEO Overstock launches new marketplace and tZero token
Not many CEOs of large companies perceive blockchain the way Patrick Byrne does. His company Overstock.com has been accepting bitcoin payments since 2014, and Byrne himself is confident that the future lies in a transparent, low-fee, blockchain-based payment system. Opening a new project tZero, Byrne expects to devote himself entirely to the blockchain field.
TZero is an Alternative Trading System (ATS) regulated by the US Securities and Exchange Commission (SEC). Rather than relying on intermediaries such as brokers to transact on behalf of their clients, tZero connects buyers and sellers directly. The goal of the project is to create an alternative to NASDAQ, which will be based on a transparent, open and immutable registry..
“I think this is a historic event. We are opening up a new type of capital market, ”Byrne told CoinDesk.
He announced that the company is selling its tokens to raise seed funding. Tokens will be used to carry out transactions on the platform, and the number of people willing to participate in the presale has significantly exceeded the number of available places, Byrne noted..
During the ICO, tZero intends to raise at least $ 250 million by selling its own tokens to accredited investors under the Simple Agreements for Future Equity (SAFE) scheme.
Recall that initially Byrne spoke about his plans to create tZero in October.
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