tZERO’s CEO Saum Noursalehi plans to expand the adoption of crypto, security tokens and mainstream trading with a one-stop-shop. But tZERO must be an approved retail broker-dealer in the United States to accomplish this goal. An approval, Mr. Noursalehi plans to achieve by the second quarter of 2020.
Mr. Noursalehi said in an interview, “tZERO plans to use its crypto wallet application to scale-up adoption for security token trading.” He went on to highlight that user growth for the crypto wallet was up 40% for the first quarter and he believes that more growth is possible this year.
tZERO Markets, the future retail broker of the Business, was submitted to FINRA earlier this year. If the Company receives approval, they plan to expand trading by combined equity and traditional securities with crypto and digital assets.
Today, tZERO parent company Overstock.com reported first-quarter earnings for 2020. Jonathan Johnson, during the meeting, said, “COVID-19 has altered the landscape for many. Our retail Business’s April sales are up over 120% year over year and that growth has occurred mainly in our key home furnishings categories. Several of our blockchain companies have received public attention because the problems they are solving using blockchain technology have been brought into the spotlight in the current pandemic. Areas like mobile voting, digital identity, digital currency, and supply chain tracking have become more important in our COVID-19 world. I am looking forward to the increase in tZERO platform activity I believe will result from the upcoming issuance of the Overstock
On April 16th, SpeedRoute, owned by tZero, announced it broke its monthly trading volume record because of increased trading volatility, handling billions of share transactions during March. The increased volume was primarily from traditional security activity, typically mainstream equity and bond transactions, and not digital tokens, or digital securities. Saum Noursalehi, tZERO’s CEO, believes this was proof that their smart trade ordering systems are primed to take on future surges in digital assets as well.
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