The post tZERO Acquires Broker-Dealer License from Key US Regulators appeared on BitcoinEthereumNews.com.

tZERO acquired broker-dealer approval, enabling it to hold and sell digital asset securities. The company intends to expand into private securities and digital asset custody by early next year. Overstock-backed tZero Group Inc. has joined Prometheum Inc. as one of the two US-based companies to get special-purpose cryptocurrency broker-dealer status. The newly registered corporation, overseen by the Securities and Exchange Commission (SEC), intends to provide digital asset custody and innovative financial solutions. tZero plans to launch these services in early 2024. This special-purpose broker-dealer license enables tZero to hold customers’ digital asset securities. However, the firm must follow the SEC’s controversial stance that most crypto tokens are securities, which is a source of disagreement in the larger crypto market. While businesses such as tZero and Prometheum follow the regulator’s standards, many crypto issuers are opposed to designating tokens as securities. David Goone, CEO of tZero, expressed enthusiasm for the new license, and said that “We have special purpose broker-dealer status will enable us to offer safe, secure, and regulated broker-dealer digital asset custody and other innovative products for issuers, investors, and market participants alike.” tZERO Expands its Digital Asset Services tZero, funded by Overstock and the Intercontinental Exchange (ICE), intends to launch a variety of services by next year. These offerings will consist of private securities, securitized real estate, art, and sports assets. The corporation will start by digitizing its Series A preferred equity asset, TZROP. tZero previously operated an alternative trading system (ATS) for digital asset securities trading, but the new license allows for full custody, clearance, and settlement services. tZERO’s Vice President hinted to exciting new developments, stating on social media that the company is keen to exploit its unique assets and improve its position in the fast-evolving blockchain industry. The authorization comes at a critical time, as…

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Filed under: News - @ September 16, 2024 10:24 am