TØ Enlists New Broker-Dealer for Blockchain Trading Platform

Overstock subsidiary tØ has partnered with a new broker-dealer as part of its bid to launch a blockchain trading platform.

AccessTimeIconSep 14, 2016 at 8:41 p.m. UTC
Updated Sep 11, 2021 at 12:29 p.m. UTC

As part of its bid to launch a blockchain-based equities trading platform, Overstock subsidiary tØ has partnered with broker-dealer Keystone Capital Corporation.

Announced today, the move is the latest step forward in a project that began for the e-commerce giant in late 2014 with the launch of a blockchain R&D division dubbed Medici. That plan, which would find Overstock being granted approval to issue digital versions of its public shares on a blockchain, received key approval from the SEC in 2015.

In statements, Keystone Capital’s Steven Capozza said his San Diego-based firm is "excited" to provide brokerage and trading account services to traders seeking to use the tØ platform.

Capozza said:

"Everyone speaks about using blockchain technology, but very few are actually making it happen."

Data from US News & World Report indicates Keystone has $12.5m in assets under management and 143 clients.

The news follows similar announcements from last year, including Overstock's investment in Pro Securities, a New Jersey-based brokerage, as well as its acquisition of financial technology provider SpeedRoute.

However, more work appears to be needed before trading commences, as evidenced by today’s release, which indicates that Overstock will need to file a prospectus supplement with the SEC related to the offering.

Representatives from tØ were not immediately available for comment.

Overstock image via Shutterstock


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.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC