Overstock to Start Trading Equity on Its T0 Blockchain Platform
Overstock announces its intention to start trading its own stocks on T0 blockchain platform. Overstock, one of the leading e-commerce platforms has announced the plan to start trading its own stocks on its proprietary blockchain platform. T0, as the platform is called, has been in development since over an year, and is expected to feature improved equity trading settlement services. The announcement to start using T0 was made by the company’s communications director, Judd Bagley at the ongoing Money 2020 event in Las Vegas. Overstock’s decision comes weeks after the T0 platform started....
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Overstock.com hinted it will begin selling stock on its T0 platform, a blockchain-based platform for trading equities which it announced last year, according to Venture Beat. Judd Bagley, the company’s communications director, announced the company plans to move forward at the Money20/20 conference in Las Vegas, emphasizing T0’s advantages over traditional equities trading systems. Bagley said Overstock, unlike other innovators, is not going to hold back in the area of fintech innovation. He noted the company, being from Utah, is taking a “burn it down and start over” approach. Technically....
On Tuesday morning at the Money 20/20 Conference in Las Vegas, Patrick Byrne, CEO of Overstock and t0, announced the historic arrival of trading publicly offered Overstock shares on the t0 blockchain. Overstock Moving Forward With t0. Starting on December 15th, individuals who purchased Overstock shares by the November 7th record date will qualify to purchase shares of its preferred stock, including preferred shares to be issued and traded exclusively on the t0 platform. As such, Overstock will become the first company to legally trade a publicly listed security on a blockchain solution.....
Overstock.com, one of the most visible retailers to embrace bitcoin, grabbed the interest of securities traders when it announced a blockchain-based securities platform and later won government approval to issue stocks via the blockchain. To help securities traders learn more about Overstock’s plans with its securities trading technology, Alex Pitti, a writer for Seeking Alpha, interviewed the communications director of Overstock.com. As a result of this interview, Pitti concluded he is not recommending Overstock stock since he questions Overstock CEO Patrick Byrne’s interest in the....
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....
Overstock recently completed the acquisition of SpeedRoute through its settlement platform subsidiary T0, effectively bringing blockchain technology to Wall Street. According to the SEC filing, SpeedRoute was purchased for approximately $30.3 million, consisting of approximately $11 million in cash and 900,000 shares of Overstock's common stock valued at $19.3 million. SpeedRoute was founded in 2000 and is a a brokerage firm or broker-dealer that buys and sells stocks, bonds, mutual funds, and other investment products on behalf of its customers. It has offices at 14 Wall Street and moves....