TZERO Announces New Volume Record For Its Digital Token Trading Service

tZERO, owned by Overstock, announced yesterday that it had hit new volume thresholds for August 2020. Their brokerage platform, tZERO ATS, traded $22 million in digital securities, and their user base grew 11% from the prior month. 

tZERO CEO Saum Noursalehi stated, “In addition to delivering record trading volume on the tZERO ATS in August, the St. Regis Aspen (ASPD) digital security began trading. The tZERO Crypto app also added over a thousand new users last month. These wins, coupled with FINRA’s approval of tZERO Markets, are exciting, and we look forward to offering our crypto customers the opportunity to open brokerage accounts at zero Markets. Overall, our recent accomplishments underscore the investor demand for digital assets.”

The critical test for tZERO to grow as an alternative to Wall Street brokers will be adding more digital tokens in the coming months. Investor adoption will grow when they have many securities choices. The few on their platform have been successful, but mass adoption will require more companies to opt for token-style capital generation rather than traditional equity ownership.

tZERO will also need to attract more institutional investment in its digital service to realize its vision as competition to traditional broker-dealers.

But if their volume trend continues to grow, it will be difficult for skeptics to dismiss their accomplishments.

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