Overstock Invests in Broker-Dealer Ahead of Decentralised Stock Market Launch
A new Wired report suggests that US retail giant Overstock has completed a working demo of its decentralised stock market Medici and that the project may soon be presented to US regulators. The report is one of the first to suggest the Medici project is moving forward past conceptual stages following its October launch. Updates on the project have since been scarce with two high-profile developers leaving in February and Overstock submitting an SEC filing related its proposed issuance of digital securities in April. The latest Wired report further indicates that Overstock has purchased a....
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Overstock is lending a hand to broker-dealers as it inches closer to its blockchain-powered stock issuance. The e-tail giant said yesterday that it is working with stakeholders to boost education of how investors can successfully subscribe to the blockchain stock sale. The company first announced its intention to pursue a sale through this method earlier this year. According to Overstock, prospective buyers of those shares – which would be tied to digitized assets listed on a distributed ledger – have run into headwinds. More specifically, there have reportedly been instances in which....
Bitcoin News. Happy Sunday, and welcome back to another Bitcoin News in Review, where we feature some of our top stories of the week here on CryptoCoins News. This week, Overstock chose Counterparty for a decentralised stock exchange, the Bitcoin Foundation condemned NYDFS's BitLicense over a lack of transparency, the bitcoin BearWhale was defeated, and more. Check out our video and keep scrolling for this week's Bitcoin News in Review. Overstock Announces Decentralised Stock Exchange. Overstock's CEO Patrick Byrne has been a longtime advocate for cryptocurrency and decentralisation. And....
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....
It will only take one broker-dealer to usher in the era of distributed securities settlement, according to Overstock's blockchain innovation lead. Once the technological barriers of connecting the platform to a blockchain are crossed and the regulatory climate has been navigated, Johnathan Johnson expects a floodgate of securities professionals looking to cut out pricey middlemen to open. Overstock's signature blockchain project, tØ, announced this week it had signed Keystone Capital Corporation to be that partner, and with the move, it believes it's one step closer to that new era. In new....
E-commerce giant Overstock’s blockchain stock sale is set to begin later this month. Overstock announced today that Connecticut-based investment bank Source Capital Group, Inc. will serve as dealer-manager for its planned blockchain-based stock offering. In March, the e-commerce giant said that it would issue its own stock via blockchain, utilizing its tØ blockchain platform to facilitate trades. During an event last month, Overstock CEO Patrick Byrne said that trading of the stock could begin as early as mid-December. Now, the company has divulged new details. According to Overstock, the....