Overstock’s tZERO Partners with Dinosaur Financial Group LLC to Launch First Security Token Trading Platform
February 1, 2019
Digital securities trading platform tZERO, a majority-owned subsidiary of Overstock.com, and Dinosaur Financial Group LLC (“Dinosaur”) announced that they have initiated secondary trading of tZERO digital security tokens. tZERO is a digital security which is traded, cleared and settled through a blockchain protocol. Accredited investors began trading the tokens through a digital securities brokerage account for the first time beginning on January 24, 2019, through a digital brokerage account at Dinosaur, which is the first broker-dealer to provide brokerage accounts for investors trading tZERO digital security tokens. Dinosaur has partnered with tZERO subsidiary, PRO Securities LLC, which offers an alternative trading system to provide market access for secondary trading of the tZERO security tokens. Seward & Kissel was pleased to represent Dinosaur in its partnership with tZERO.
Dinosaur is a New York based brokerage firm and investment bank with extensive experience in capital markets and a global reach.
tZERO, a subsidiary of the digital retailer Overstock.com and a Medici Ventures portfolio company, is one of the first security tokens to launch. PRO Securities is an SEC-registered broker-dealer and FINRA member.
Seward & Kissel LLP (www.sewkis.com) is a leading New York law firm, originally established in 1890, long recognized for innovations in the investment management field, with the establishment of what is considered to be the very first hedge fund, A.W. Jones & Company, in 1949. Seward & Kissel attorneys continue the tradition of innovation in financial products and services by helping realize the first securities token secondary trading market.
The press release describing this partnership can be accessed by clicking here.