The operator of the Boston stock exchange and a subsidiary of Overstock tZero announced the creation of a joint venture to launch a regulated exchange of tokens, classified as securities.
The company tZero and BOX Digital Markets LLC (management Boston Stock Exchange) signed an agreement of intent to establish a stock exchange for the listing and public trading security tokens.
The joint venture will be equally owned tZero and Digital BOX, and each of them will have equal representation on the Board of Directors together with one independent Director, by mutual consent.
CEO Digital and BOX President BOX Options Exchange Lisa fall (Lisa Fall) will lead the new platform.
“tZero in recent years has established itself as a pioneer in the development and practical use blockchain technology for capital markets. The successes and achievements of the tZero in this innovative region in combination with the Digital BOX experience in the management of a highly efficient and transparent market of share options made it easy to build partnerships,” said she.
tZero will provide joint venture financing and licenses its own blockchain technology to work market security-token. BOX Digital will provide expertise and personnel to obtain the approval of regulators and market security-tokens. The Commission’s approval of the securities and exchange Commission (SEC), the U.S. will be required after the execution of established by legislation requirements.
“Our partnership with BOX Digital Markets — a significant step which will create the first SEC regulated exchange designed to trade effectively licenzirovanie securities. Lisa is Foul, its leadership, reputation and deep experience in a regulated stock exchange securities industry will become a major advantage in achieving this goal,” said CEO of tZero , Noursalehi Saum (Saum Noursalehi) recently replaced on this post Patrick Byrne (Patrick Byrne).
Recall that in April tZero presented a prototype of its platform for trading tokens, its official launch was scheduled for may.