Overstock's tZero Unveils Token Trading Platform Prototype

Overstock announced its prototype trading platform on Monday, saying the full product would launch in May.

AccessTimeIconApr 9, 2018 at 4:15 p.m. UTC
Updated Sep 13, 2021 at 7:48 a.m. UTC

The blockchain subsidiary of e-commerce giant Overstock has revealed the prototype for its soon-to-be-launched token trading platform.

tZero unveiled the prototype Monday and released a video demonstration detailing how it works in practice. The company is seeking public feedback on the prototype ahead of its full release, which is expected to take place in May, according to statements.

Overstock and tZero chief executive Patrick Byrne said the prototype will help users "get an idea of the breadth of what we intend," given that the move follows the launch of Overstock's OSTKP security blockchain. OSTKP is also based on tZero's platform, according to the release.

The subsidiary is still waiting for federal regulators to weigh in on security tokens before launching the full platform, tZero president Joe Cammarata was quoted as saying.

That being said, he still believes the new platform is "making history," adding:

"We anticipate the security token trading software will be ready to trade security tokens in May, subject to developing further regulatory clarity. We have been working hard on getting this prototype right and look forward to user feedback."

Stepping back, Overstock has been raising funds through its $250 million offering, as previously reported. The sale of "Simple Agreements for Equity" (SAFE) will continue until May 14, 2018, tZERO also said Monday.

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