Roily23
3年前
NEW YORK, February 23, 2022--(BUSINESS WIRE)--tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today that its broker-dealer subsidiary, tZERO ATS, successfully launched support for clearing and settlement securities transactions for itself and its broker-dealer affiliates on February 22, 2022, a key milestone for tZERO’s next-generation trading ecosystem. tZERO’s broker-dealer subsidiaries are now able to independently onboard additional private securities at a faster pace, accelerate the settlement times of transactions on its private security trading platform, and improve the user experience in transferring cash and securities to and from third-party platforms.
tZERO Interim Chief Executive Officer and Chief Legal Officer Alan Konevsky stated, "Yesterday’s launch was successful and will significantly increase the velocity at which we can onboard new assets to the tZERO ATS, giving customers a greater variety of investment opportunities and enabling increased liquidity for private capital markets."
This clearing and custody model supports the current and future private digital securities that trade on the tZERO ATS, which are uncertificated securities with focused blockchain functionality to increase transparency. It will also support NMS securities, which are public securities that trade on national exchanges.
In addition to supporting a traditional broker-dealer custody, tZERO expects, subject to regulatory approval, to implement parallel clearing, settlement, and custodial solutions to support digital asset securities, which are securities issued and settled on a blockchain, to its platform. This solution will initially be implemented through user-directed settlement in partnership with a custodian and, later, in conjunction and in accordance with the Securities and Exchange Commission (SEC)’s statement that outlined how broker-dealers can engage with digital asset securities, including maintaining custody of these assets and settling on-chain without a clearing firm or a custodian.
"tZERO is committed to transforming the current trading infrastructure of digital assets to support next-generation capital markets and innovating the ways these assets can be custodied and transferred. Being able to support next-generation infrastructure and settlement and clearance systems in place today will propel operational efficiencies and bring value to both the company and its stakeholders," concluded Konevsky.
tZERO is a technology firm with the goal of democratizing access to private capital markets. tZERO brings together issuers and financial firms seeking a transparent, automated, digitally enabled marketplace and investors seeking access to unique private assets, public equities, cryptocurrencies, and other digital assets, including non-fungible tokens. For more information, visit https://www.tzero.com/.
Roily23
3年前
NEW YORK, February 22, 2022--(BUSINESS WIRE)--tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today it will appoint David Goone, currently the Chief Strategy Officer of Intercontinental Exchange, Inc. (NYSE: ICE), to become tZERO’s new Chief Executive Officer. Related to Goone’s appointment, tZERO also announced that it has completed an additional strategic funding round from new and existing investors. Participants in the financing include NYSE parent company ICE, which will become a significant minority shareholder of tZERO, Overstock.com, Inc. (NASDAQ: OSTK), an original investor in tZERO, and Medici Ventures, L.P., a blockchain-focused fund whose general partner is an entity affiliated with Pelion Venture Partners, among others.
Goone, who has helped build ICE into a trading, clearing, and data powerhouse during his 21-year tenure with the company, will begin his role with tZERO in March 2022.
tZERO, through a wholly owned subsidiary, operates an SEC-regulated alternative trading system (ATS) and broker-dealer in the digital asset space, and is a technology firm with the goal of democratizing access to capital markets. tZERO brings together issuers and financial firms seeking a transparent, automated, digitally enabled marketplace and investors seeking access to unique private assets, public equities, cryptocurrencies, and other digital assets, including non-fungible tokens (NFTs). tZERO also has a joint venture with BOX Digital Markets LLC to launch the nation’s first regulated blockchain-enabled securities exchange, known as the Boston Security Token Exchange (BSTX).
"I look forward to bringing my three decades of product innovation and strategic experience forged in the exchange and derivatives trading industry to drive continued growth and operational excellence at tZERO," said David Goone.
"David is a world-class leader and visionary and is uniquely qualified to lead tZERO through the next phase of its evolution and growth," said Matt Mosman, Chairman of tZERO’s Board of Directors and General Partner at Pelion Venture Partners. "We are laser-focused on empowering tZERO to grow into its full potential as it continues to lead the space in providing investors with a seamless and holistic way to access all assets, such as cryptocurrencies, digital and conventional securities, and other assets, including NFTs."
"David Goone was present at many of ICE’s milestone moments and deals over two decades, was a key player on our management team as we built our world-class trading, clearing, and data infrastructure and product line, and has been a steward of our problem-solving culture," said Jeff Sprecher, Founder, Chairman, and CEO of Intercontinental Exchange. "David’s leadership and his mastery of trading, data, and clearing technology will be a big asset as tZERO begins its next chapter leading the growth and adoption of next-generation market infrastructure."
"Having worked side-by-side with David for many years, I saw first-hand his skill in innovating and implementing products that benefit customers and drive evolution in the exchange space," said Lynn Martin, President of the New York Stock Exchange. "I look forward to David’s next chapter as CEO of tZERO and witnessing his continued application of technology to trading."
Jonathan Johnson, CEO of Overstock, stated, "Overstock has been an early advocate for accelerating the adoption of blockchain technology, particularly in capital markets. We have long supported tZERO to do just that. With the addition of David as tZERO’s CEO, its successful new round of financing, and the recent approval of BSTX, it is a great opportunity for Overstock to invest more capital in tZERO. We believe the new capital infusion will allow the company to scale and continue its innovation in leveraging blockchain technology to create a more efficient and transparent Wall Street, ultimately revolutionizing and democratizing capital markets."
Joining ICE in 2001 from CME Group, Goone was a driving force at ICE as its Chief Strategy Officer since its inception, through its IPO, and during its continued growth. Goone helped build the company from its early stage to a Fortune 500 company with over $7 billion in net revenue in 2021. During his tenure, Goone developed and managed many of the company’s product lines and oversaw ICE Benchmark Administration, which has administered LIBOR and the global gold and silver fixings. He has served on many of ICE’s subsidiary exchange boards and represents ICE on several industry boards, including the Depository Trust Clearing Corporation (DTCC), Options Clearing Corporation (OCC), and the National Futures Association (NFA). Goone also served as Vice Chairman of CETIP S.A. until its merger with B3 exchange in Brazil.
Terms of ICE’s investment in the tZERO financing are not being disclosed, and the transaction will have no impact to ICE’s adjusted financial results.
Investor Notice
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by tZERO or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
Forward-Looking Statements
This release contains forward-looking statements. In addition, from time to time, tZERO, its subsidiaries, or its representatives may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from currently available information. Such forward-looking statements relate to future events or future performance, including financial performance and projections; growth in revenue and earnings; and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including, without limitation: the ability of tZERO and its subsidiaries to change the direction; tZERO’s ability to keep pace with new technology and changing market needs; and competition. These and other factors may cause actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or their respective representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions. tZERO, its subsidiaries, and its representatives are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or its representatives might not occur.
About tZERO
tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system. tZERO, through its broker-dealer subsidiaries, democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. tZERO is a portfolio company of Medici Ventures, L.P., a blockchain-focused fund. The general partner of that fund is an entity affiliated with Pelion Venture Partners. Overstock.com, Inc. (NASDAQ:OSTK) is a limited partner of Medici Ventures, L.P. and holds a direct minority interest in tZERO. For more information on tZERO, please visit https://www.tzero.com/.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
About Overstock.com
Overstock.com, Inc. (Common Stock (NASDAQ:OSTK) / Series A-1 Preferred Stock (tZERO ATS:OSTKO) / Series B Preferred Stock (OTCQX:OSTBP)) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, area rugs, bedding and bath, home improvement, outdoor, kitchen and dining items, and more. The online shopping site, which is visited by tens of millions of customers a month, also features a marketplace providing customers access to millions of products. In 2014, Overstock became the first major retailer to accept cryptocurrency as a form of payment and continues to do so. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, and Club O are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
About Pelion
Pelion Venture Partners is an early-stage venture capital firm. Pelion invests in Seed and Series A software companies across the United States. Notable investments include: Cloudflare (NYSE: NET), Riverbed, Divvy (acquired by Bill.com), and Weave (NYSE: WEAV).
View source version on businesswire.com: https://www.businesswire.com/news/home/20220222006084/en/
Contacts
tZERO
Alexandra Sotiropoulos, +1-347-293-1416
asotiropoulos@tzero.com