Overstock Denies Nasdaq is Using its tØ Blockchain Platform
Overstock has confirmed that Nasdaq is not using its tØ blockchain platform to clear trades. Rumours suggesting that Nasdaq - which unveiled its own blockchain-based platform last week - was using the online retailer's blockchain platform to settle trades first surfaced on Reddit earlier today. However, a representative from Overstock told CoinDesk: "That thread is completely mistaken. NASDAQ is doing something similar to, but not using our platform." First announced in May, Nasdaq Linq will facilitate the transfers and sale of stock in private companies. The product is currently being....
Related News
Nasdaq has become one of the first multinational financial services companies to delve into non-currency usage of blockchain technology. On Monday, May 11, the company announced that it would begin to leverage the colored coin protocol Open Assets to "expand and enhance the equity management capabilities offered by its Nasdaq Private Market platform." According to Nasdaq CEO Bob Greifeld, the distributed ledger function of the blockchain will "modernize, streamline and secure typically cumbersome administrative functions, and will simplify the overwhelming challenges private companies face....
Patrick Byrne, CEO of US online retailer Overstock.com, unveiled tØ today at the headquarters of the major US stock market Nasdaq in New York today. The announcement marked the formal debut of tØ (pronounced tee-zero), Overstock's long awaited blockchain-based private and public equities trading platform first announced in 2014. Byrne also unveiled a "big surprise" in the form of the platform's Preborrow Assured Token, which Byrne suggested would democratize securities lending. The product, he said, is already being used in an enterprise pilot program, and is the subject of interest by....
The US Securities and Exchange Commission (SEC) has reportedly approved Overstock's plans to issue stock via the blockchain through its subsidiary tØ platform. According to Wired, the company was granted an amended Form S-3 - a requirement solely for companies that report under the Securities Exchange Act of 1934 - meaning that it could now issue public securities leveraging blockchain technology. It is still unclear when the company will issue its first public security on a distributed ledger but Patrick Byrne, Overstock's CEO, told Wired: "You can assume its high on our list of....
Online retail giant Overstock announced it will issue public shares of company stock on its tØ blockchain platform at the 41st Annual International Futures Industry Conference today. First unveiled in August 2015, the tØ blockchain platform ambitiously aims to revolutionize trade and settlement by issuing stocks and bonds as a digital, blockchain-based assets, thereby disrupting the T+3 settlement model currently operated by the DTTC. Following the release, Overstock would have two versions of its stock, one available on traditional trading systems such as Nasdaq and another on tØ.....
The Salt Lake City-based online retailer Overstock is working on a revolutionary new development: a new independent stock exchange powered by Bitcoin technology. The new stock exchange could sidestep traditional stock exchanges such as NYSE and NASDAQ and issue corporate stock directly over the Internet. Overstock, one of the first and largest online retailers to accept bitcoin payments, first announced the project in October 2014. "There is an opportunity to recreate the financial world as we know it in the parallel universe that is the blockchain," Overstock's CEO Patrick Byrne told....