Child blockchain company of online retailer Overstock tZero announced the completion of the issue of privileged security-tokens is suitable for investors who fully rasschitalsya simple agreements for future equity participation (SAFE) before the end of an adjustable tocancel project (STO) on 6 August this year.
According to the company, October 12, released security-tokens were transferred to the custody wallet tZERO on behalf of the investors. To ensure compliance with the requirements of Federal laws and regulators tokens will remain there until January 10, 2019, and at the end of this 90-day period, tZERO will provide users with the ability to trade them on its own platform, which is currently being developed by a startup in partnership with another company, having the status of a broker-dealer. In addition, accredited investors will also be able to access the accounts to purchase tokens at the end of the stated period.
The tZERO plans to develop and open up to 6 August 2019 approved trading platform on which the holders of the security tokens will be able to offer them to non-accredited investors. However, the startup intends to register securities in order to carry out a derivative transaction at a “more secure environment”, for example, on a U.S. regulated exchange, which creates, together with BOX Digital Markets and on international stock exchanges.
Recall that on a regulated tokencache, which lasted from December 2017 to August this year, the company raised $134 million investment, planning to send them back for revision alternative trading blockchain platform and the creation of new similar in different jurisdictions around the world.
April tZero unveiled a prototype of its platform for trading tokens, and in may, the operator of the Boston stock exchange and tZero announced the creation of a joint venture to launch a regulated exchange of tokens, classified as securities.