tZERO Approved to Launch Retail Broker-Dealer Subsidiary
September 10 2020 - 8:56AM
Business Wire
tZERO, a leader in financial innovation and liquidity for
private companies, announced today that the Financial Industry
Regulatory Authority (FINRA) has approved the membership
application of tZERO Markets, a retail broker-dealer and wholly
owned subsidiary of tZERO that is registered with the Securities
and Exchange Commission (SEC). This approval allows tZERO Markets
to offer its customers retail brokerage services for digital
securities and provide issuers with investment banking and
placement agent services in connection with capital raising
activities.
tZERO CEO Saum Noursalehi stated, “Today’s announcement is an
important milestone and further advances our vision of creating the
most robust and innovative marketplace for private assets. Through
tZERO Markets, we will establish a direct relationship with our
customers, while also offering a streamlined experience for
onboarding and trading digital securities. We expect tZERO Markets
to launch its services in a couple of months.”
Private markets have become a critical part of capital
formation. They include a range of asset types and issuers,
including growth-stage companies, real estate, and funds. tZERO is
playing an instrumental role in opening additional investment
opportunities for investors that would normally not have access to
trade private securities.
“From digitizing a private company’s ownership records to
trading through an institutional-grade order-management system,
tZERO has built an end-to-end ecosystem that democratizes access to
private assets,” concluded Noursalehi.
The initial tZERO Markets’ launch will be web-based, followed by
iOS and Android mobile applications, subject to regulatory review.
At launch, tZERO Markets will start onboarding U.S.-based retail
investors with plans to expand to entities and international
investors.
tZERO is a technology firm with the goal of democratizing access
to private capital markets. tZERO is a subsidiary of Medici
Ventures, the blockchain-focused, wholly owned subsidiary of
Overstock.com, Inc. (NASDAQ:OSTK).
Investor Notice Investors should note that trading
securities could involve substantial risks, including no guarantee
of returns, costs associated with selling and purchasing, no
assurance of liquidity, which could impact the price and ability to
sell, and possible loss of principal invested. Further, an
investment in single security could mean lack of diversification
and, consequently, higher risk.
No Offer, Solicitation, Investment Advice or
Recommendations This release is for informational purposes only
and does not constitute an offer to sell, a solicitation to buy, or
a recommendation for any security, nor does it constitute an offer
to provide investment advisory or other services by the tZERO or
any of its affiliates, subsidiaries, officers, directors or
employees. No reference to any specific security constitutes a
recommendation to buy, sell, or hold that security or any other
security. Nothing in this release shall be considered a
solicitation or offer to buy or sell any security, future, option
or other financial instrument or to offer or provide any investment
advice or service to any person in any jurisdiction. Nothing
contained in this release constitutes investment advice or offers
any opinion with respect to the suitability of any security, and
the views expressed in this release should not be taken as advice
to buy, sell or hold any security. In preparing the information
contained in this release, we have not taken into account the
investment needs, objectives, and financial circumstances of any
particular investor. This information has no regard to the specific
investment objectives, financial situation, and particular needs of
any specific recipient of this information and investments
discussed may not be suitable for all investors. Any views
expressed in this release by us were prepared based upon the
information available to us at the time such views were written.
Changed or additional information could cause such views to change.
All information is subject to possible corrections. Information may
quickly become unreliable for various reasons, including changes in
market conditions or economic circumstances.
About tZERO tZERO Group, Inc. and its broker-dealer
subsidiaries (tZERO) provide an innovative liquidity platform for
private companies and assets. We offer institutional-grade
solutions for issuers looking to digitize their capital table
through blockchain technology, and trade on a regulated alternative
trading system. tZERO democratizes access to private assets by
providing a simple, automated, and efficient trading venue to
broker-dealers, institutions, and investors. For more information
on tZERO, please visit https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal,
underwriter, investment bank, investment adviser or investment
manager, and is not providing brokerage, investment banking or
underwriting services, recommendations or investment advice to any
person, and does not provide any brokerage services. tZERO takes no
part in the negotiation or execution of secondary market
transactions for the purchase or sale of securities and, at no
time, has possession of investor funds or securities in connection
with such transactions.
About tZERO Markets tZERO Markets, LLC is a broker-dealer
registered with the SEC and a member of FINRA and SIPC. More
information about tZERO Markets may be found at
https://brokercheck.finra.org/. The digital securities relevant to
tZERO Markets’ business lines are conventional uncertificated
securities. Ownership of such securities is reflected on the
traditional books and records of regulated market participants. The
terms "digital" and “digital security” refer to the blockchain
technology elements of a security that are intended to enhance the
investor experience through added transparency, but have no
controlling or legal effect.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200910005626/en/
tZERO Media Contact Alexandra Sotiropoulos,
+1-347-293-1416 asotiropoulos@tzero.com
Investor Contact Michael Mougias, +1-347-293-1248
mmougias@tzero.com
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