Hong Kong-based equity firm GSR Capital has agreed to invest as much as $400 million in tZero and Overstock. After the announcement, Overstock shares soared by 21 percent in after-hours trading.
The company has delayed the launch of the final version of the trading platform until May as it is still developing further regulatory compliance.
Speaking at the Money 20/20 conference on Tuesday, Overstock’s communications director, Judd Bagley, announced the company will commence trades on its blockchain platform this December.
Keystone Capital Corporation has announced a license agreement with Overstock’s subsidiary to use its blockchain trading technology for offering trading account and brokerage services to investors.
Getting an approval from the SEC is a part of a large cryptofinance initiative of Overstock called Medici.
Various sources close to Overstock say that the U.S. Securities and Exchange Commission has approved a S-3 filing for Overstock.com to issue new publicly traded shares on the Bitcoin blockchain.