TØ Enlists New Broker-Dealer for Blockchain Trading Platform
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....
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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....
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