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

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

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.

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

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

By Greg Ahlstrand
AccessTimeIconFeb 23, 2022, 4:37 AM
Updated Apr 10, 2024, 2:20 AM
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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.

STORY CONTINUES BELOW

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Greg Ahlstrand

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

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