Medici Ventures Announces Beta Launch of Bitsy.com Cryptocurrency Wallet and Exchange
September 14 2018 - 9:00AM
Overstock.com to offer bitcoin for sale on its retail site using
Bitsy
Medici Ventures, a global leader in blockchain technology, today
announced that its portfolio company Bitsy.com has commenced the
limited beta launch of a digital wallet service that creates a
simple, secure, and convenient bridge between traditional fiat
currencies and cryptocurrencies.
The initial beta release of the technology will support bitcoin
purchases, with additional cryptocurrencies to follow soon. Unlike
other wallet providers which do not let users actually hold their
coins by using only derivative claims on coins owned by the
provider, Bitsy users hold the actual real bitcoins and have
complete control over their funds, including the ability to move or
spend cryptocurrency. Biometric security insures against hacks and
lost passwords. In the event a wallet is lost or destroyed, Bitsy’s
key recovery system offers a unique and revolutionary way to
recover funds.
Medici Ventures parent company, Overstock.com, Inc.
(NASDAQ:OSTK), which has accepted bitcoin since January, 2014 and
today accepts dozens of cryptocurrencies, plans to use the Bitsy
service to offer bitcoin for sale on the Overstock website.
“Bitsy sets a new standard for cryptocurrency wallets. It is a
game-changer because it gives users the freedom that bitcoin has
always promised,” said Patrick Byrne, CEO and founder of
Overstock.com. “This new Bitsy wallet has extraordinary advantage
in convenience versus anything currently on the market. In addition
to setting a new standard for cryptocurrency wallets, integrating
with Bitsy will allow Overstock to take the next step in its
cryptocurrency journey by allowing the company to offer bitcoin for
sale directly from the retail website.”
“At Bitsy, we want to make bitcoin so easy that anyone can use
it,” added Ann-Marie Hopkins, CEO of Bitsy. “We are excited
to have Medici Ventures and Overstock as partners in our efforts to
broaden the adoption of cryptocurrency.”
Medici Ventures is a wholly-owned subsidiary of Overstock.com
founded in 2014 to strategically invest in companies applying
blockchain technology to industries where it can democratize
capital, eliminate middlemen and rehumanize commerce.
About Medici Ventures:
Launched in 2014, Medici Ventures is a wholly owned subsidiary
of Overstock.com, Inc., created to leverage blockchain technology
to solve real-world problems with transparent, efficient and secure
solutions. Medici Ventures has a growing portfolio of
groundbreaking blockchain-focused investments. The company’s
majority-owned financial technology company, tZERO, executed the
world’s first blockchain-based stock offering in December 2016.
About Overstock.com:
Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A
Preferred (Medici Ventures’ tZERO platform: OSTKP) / Series B
Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake
City, Utah that sells a broad range of products at low prices,
including furniture, décor, rugs, bedding, and home improvement. In
addition to home goods, Overstock.com offers a variety of products
including jewelry, electronics, apparel, and more, as well as a
marketplace providing customers access to hundreds of thousands of
products from third-party sellers. Additional stores include Pet
Adoptions and Worldstock.com dedicated to selling artisan-crafted
products from around the world. Forbes ranked Overstock in its list
of the Top 100 Most Trustworthy Companies in 2014. Overstock
regularly posts information about the company and other related
matters under Investor Relations on its website,
http://www.overstock.com.
O, Overstock.com, O.com, Club O, Main Street
Revolution, and Worldstock are registered trademarks of
Overstock.com, Inc. O.biz and Space Shift are also
trademarks of Overstock.com, Inc. Other service marks, trademarks
and trade names which may be referred to herein are the
property of their respective owners.
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact. Additional information regarding
factors that could materially affect results and the accuracy of
the forward-looking statements contained herein may be found in the
Company's Form 10-Q for the quarter ended March 31, 2018, which was
filed with the SEC on May 8, 2018, and any subsequent filings with
the SEC.
SOURCE: Overstock.com, Inc.
Media Contact:pr@overstock.com
Overstock com (NASDAQ:OSTK)
Historical Stock Chart
From Apr 2024 to May 2024
Overstock com (NASDAQ:OSTK)
Historical Stock Chart
From May 2023 to May 2024