Overstock's TØ to Issue First Public Blockchain Equities – Blockchain Bitcoin News


Overstock's TØ to Issue First Public Blockchain Equities

Overstock.com’s blockchain-based trading startup, TØ, has announced its partnership with the Keystone Capital Corporation. The collaboration marks the first public issuance of blockchain equities.

Also read: Overstock.com to Take the Bitcoin Blockchain Public in ‘Matter of Weeks

Keystone Capital and TØ’s Public Blockchain Equities

Patrick Byrne
Patrick Byrne

On September 14, Overstock’s TØ was selected by Keystone Capital Corporation to use its blockchain trading system. Under a license agreement with TØ, Keystone will provide brokerage options for clients looking to acquire blockchain securities. The TØ startup will enable investors to create digital accounts in the near future.

Overstock.com CEO Patrick Byrne states during the announcement:

It’s no secret that Overstock’s own financial technology subsidiary, TØ, has been working on a blockchain version of Wall Street, and that Overstock desires to demonstrate its system by issuing a security of its own on the technology it is creating. Keystone Capital has aligned with us in this historic effort.

Steven Capozza of Keystone Capital explains they are very excited to participate in this “cutting edge technology.” Capozza explains that many institutions and startups talk about blockchain technology, but only a few of them actually produce results. The Keystone Capital executive expresses his company’s satisfaction with the talented technologists involved in the TØ project.

‘Greater Efficiency & Transparency to Capital Markets’

Overstock TØTØ says the blockchain-based securities offered will be pursuant to a shelf registration statement on Form S-3. Alongside this, a prospectus supplement will be filed with the U.S. Securities and Exchange Commission (SEC). Since the beginning, TØ has aimed at providing “greater efficiency and transparency to capital markets” through the use of blockchain technology.

“Keystone Capital is a visionary company that grasped immediately the importance of the revolutionary technology we’ve built,” says Overstock Medici president Jonathan Johnson. “It’s been a pleasure working with such a forward-leaning firm.

Patrick Byrne and his firm Overstock truly believe in blockchain technology. With its subsidiary, TØ, Overstock plans on revolutionizing markets, creating a more transparent form of trade and settlement. Keystone Capital is on board with distributed ledgers and looks forward to see what both firms can accomplish.

What do you think about Keystone Capital utilizing TØ to issue blockchain equities? Let us know in the comments below.

Source: TØ.com

Images via Shutterstock, and TØ’s website.

Tags in this story
Blockchain Equities, Jonathan Johnson, Keystone Capital, Patrick Byrne,

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

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