MADE IN CANVA
Overstock planned to launch tZERO as just a cryptocurrency, but it later grew into a trading platform for many cryptocurrencies and digital securities. A new update on the tZERO trading app has also brought some changes that people don’t get to see on many trading apps.
What is tZERO?
tZERO was launched after Overstock, a large online shopping commercial site, and other trading companies decided to come together and launch their own cryptocurrency. The release was done in the form of an ICO(initial coin offering) at the end of 2017. It is important to keep in mind that investing in ICOs was really popular at the time but at the same time led to many companies vanishing with the money.
The ICO, in particular, was met with great curiosity and many investors poured their money into it to help fund the cryptocurrency and the infamous tZERO trading platform, although it did last very long, longer than most ICOs due to lack of funding as it hoped to raise $250 million. It also changed the original structure of the ICO. As a reward for purchasing these tokens, they were given the chance to buy blockchain-enabled DLR(Digital Locate Receipts). This DLR would permit traders involved in short sales to borrow shares they want to trade against. Unfortunately, it only reached $134 million before ending the ICO however, this was covered by the $374 million investment from GSR Capital, a private equity firm from China. This shift of the company towards the ICO took a major hit on Overstock’s stock price, which it eventually recovered.
tZERO’s new App Update to benefit Crypto Investors!
The tZERO crypto app, which is a trading platform, is offering higher buying limits, specifically $25,000 per day deposit limits. It has also added three more altcoins: Chainlink, Bitcoin SV, and Basic Attention Token bringing the total amount of cryptocurrencies that are available to trade on the platform to 7(Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Chainlink (LINK), Bitcoin SV (BSV), Basic Attention Token (BAT), and Ravencoin). In addition to this, it has also improved on settlement times, which will enable investors to make multiple instant transactions in a day along with better customer service. Nowadays, the importance of having a well-regulated trading app is gaining more popularity as people are using phones to make crypto-related transactions.
tZERO to support NYCE!
tZERO is planning to support NYCE, a real-estate crowdfunding company, by digitizing and trading around $18 million worth of assets. This will be done once the assets are issued in the Regulation A+ offering, which is an exemption from registration for public offerings. tZERO will also be assisting the company’s secondary trading of digital securities through its smart contracts. tZERO ATS, a broker-dealer subsidiary of tZERO, is also looking into trading NYCE’s shares.
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Is Overstock’s tZERO Worth Investing in? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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