Time will tell if this partnership will endure. Investors were disappointed earlier this week to find that trading on the tZERO platform is currently limited to wall-street hours (0930-1600hrs EST). However, tZERO is looking to eventually attain its own broker/dealer licence. In doing so, they would then open trading 24/7.
For now, this partnership is a mutually beneficial and allows tZERO to continue to establish itself as a key piece in the digital securities sector.
Representatives from each company spoke on this development.
Saum Noursalehi, CEO of tZERO, stated,
“We're very excited to be joining forces with Dinosaur as the broker-dealer for our new security token platform. With Dinosaur, we have found a firm that understands our vision to bring transparency and efficiency to global markets and accelerate the adoption of security tokens.”
Elliot Grossman, Managing Director of Equity Trading for Dinosaur, stated,
“Becoming the provider of brokerage accounts for tZERO security token holders is a significant milestone for Dinosaur. Blockchain is changing how securities are traded and settled, and I am particularly proud that Dinosaur has joined with tZERO, tZERO's broker-dealer subsidiary, PRO Securities (and the PRO ATS), PRO's other partners and Electronic Transaction Clearing to pioneer disruptive changes for issuance, trading, and settlement in the capital markets.”
Glen Grossman, Founder and CEO of Dinosaur, stated,
“We are very pleased to have partnered with tZERO and PRO Securities and to offer our services to accredited investors interested in trading digital securities. Dinosaur is an agile business, and our clients expect us to use leading-edge technology, so today's announcement should be no surprise. Working with blockchain technology is a natural step for me because of my previous work pioneering electronic trading in US Treasury markets.”
Dinosaur is a multi-faceted company, providing services pertaining to wealth-management, brokerage, and investment banking/advisory. CEO, Glen Grossman, oversee company operations in New York.
tZERO is based out of New York, and is a subsidiary of Overstock.com. Each are products of Patrick Byrne, who has recently noted that he will be increasing his focus on the development of tZERO. Above all, this subsidiary acts as a platform to facilitate various services aimed towards security tokens.
In Other News
tZERO has made headlines various times in the past few months. Most notably, tZERO went live with their trading platform only weeks ago. Here is a brief look at a few times we have detailed developments pertaining to tZERO.