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 launch of this regulated security exchange set a “significant milestone” in the integration of the traditional finance and the blockchain industry.
The company has delayed the launch of the final version of the trading platform until May as it is still developing further regulatory compliance.
After the smartphone revolution, one of the most revolutionary technologies with which almost every business today wants to get associated with one or the other way is the ‘Blockchain Technology’.
Overstock CEO Patrick Byrne confirmed the upcoming tZero ICO scheduled by Thanksgiving, adding it can raise up to $500 million.
The new exchange is promised to drive the growth of security token market by changing the trade of virtual tokens issued via Initial Coin Offerings.