The most high-profile security token exchange, owned by Overstock.com, is now expanding into Bitcoin trading. The firm plans to release a mobile app later this year.
tZERO has been in the news a lot ever since its STO was announced in summer 2018. In January of this year, the tZERO security token finally started trading after being distributed to investors just a week prior. It has the backing of Overstock.com CEO Patrick Byrne, who has been one of the most public advocates of security tokens to date.
However, tZERO has more aspirations than just being a security token exchange. Now, it wants to trade Bitcoin. They have just announced they will be launching their own traditional cryptocurrency trading app in June.
tZERO’s Bitcoin Trading App
Although facilitating the issuance of security tokens has been the primary objective of tZERO, they are now moving towards traditional cryptocurrency trading.
The mobile trading app will allow traders to buy and sell digital assets like Bitcoin and Ether. The app is currently being developed by Bitsy, a startup that is involved with another subsidiary of Overstock, Medici Ventures.
Commenting on the planned mobile app, the CEO of tZERO, Saum Noursalehi, said:
“Developing our mobile bitcoin trading app is part of the reasons we acquired Bitsy. They have an app for trading, primarily bitcoin, in a beta-phase, they built a crypto wallet and critical recovery system, and this will be the foundation of the mobile app for tZERO. They are also working on some exciting features like biometric login.”
tZERO just may have the digital infrastructure to pull this off successfully.
What do you think of tZERO’s plans to create a trading app? Good idea or totally unnecessary? Let us know your thoughts in the comments.