NYSE Parent ICE Takes Stake in tZERO in Potential Move Toward Tokenized Stocks

ICE Chief Strategy Officer David Goone will become tZERO's CEO and will join its board of directors.

AccessTimeIconFeb 23, 2022 at 4:37 a.m. UTC
Updated Feb 23, 2022 at 3:09 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Greg Ahlstrand is CoinDesk's Asia News Editor. Greg has no significant crypto holdings.

Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

New York Stock Exchange parent Intercontinental Exchange Inc. (ICE) will take an ownership stake in tokenized securities venue tZERO. ICE said in an announcement on Tuesday.

  • ICE said in an announcement on Tuesday its investment will make it a "significant" minority shareholder in tZero. The announcement didn't provide the stake size or dollar value of the transaction but said there will be no financial impact to ICE or its capital return plans.
  • Other investors in tZERO include Overstock.com, which had launched tZERO; Medici Ventures, a blockchain-focused fund whose general partner is an entity affiliated with Pelion Venture Partners, and others.
  • The alternative trading system (ATS) had been looking for a buyer or partner since at least mid-2021, two people familiar with the plans told CoinDesk on June 2.
  • ICE is also majority owner of cryptocurrency exchange Bakkt, which went public via a merger with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings in October.

Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Greg Ahlstrand is CoinDesk's Asia News Editor. Greg has no significant crypto holdings.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Greg Ahlstrand is CoinDesk's Asia News Editor. Greg has no significant crypto holdings.