Overstock CEO plans to see tZero trading increase rapidly by end of 2019

22 Feb, 2019
by Ryan Boltman
News
Overstock CEO plans to see tZero trading increase rapidly by end of  2019

Overtstock CEO Patrick Byrne believes tZero, a subsidiary of Overstock.com, will see a boost in trading activity towards the end of 2019, according to an interview with Coindesk.

Overstock CEO Patrick Byrne was recently interviewed by Coindesk on the security trading platform that is tZero. The project is a subsidiary of Overstock.com and currently trades on its own platform alone. 

The recent lock-up period which will see the security token unlock in August, should allow retail traders the opportunity to buy and sell the coin. Something only accredited investors are currently able to do. 

Read More: Overstocks most anticipated trading platform tzero will go live next week

Daily trading volume for the coin tops out at $200,000. This is a measly trading amount compared to the likes of Bitcoin and Ethereum which both trave over $4 billion daily. 

Byrne has plans to introduce further broker dealers for the Alternative Trading System (ATS) for crypto tokens. The process will likely be slow as tZero are required to worth with the SEC to ensure regulatory requirements are met. Byrne says the process will be slow but worth it. "FINRA and SEC made it clear that they want to see this work with one broker. We’re into an incremental disruption, not like you millennials that want everything burned down tomorrow.”

Read More: How Wall Street may use blockchain tech Overstock CEO Patrick Byrne explains

tZero looks set to be a project that can really disrupt the space in the future, pivoting away from the standard ICO and already classifying itself as a security token offering (STO), Byrne believes the future of tZero is extremely bright. "People in blockchain are used to building sort of little science experiments. They don’t know how to build something that a million of people are going to use.” he said. 

Overstock suffered the same fate as the cryptocurrency market in 2018, seeing its share price decline significantly. 

Read More: Uncanny price correlation: Bitcoin and Overstock

Read more about: Overstock

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