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tZERO Is Finally Available for Trading By Non-Accredited Investors
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In a new press release, TZERO has announced that its equity security tokens, called ‘TZROP,’ is now available for trading by both accredited and non-accredited investors alike.
A new press release by tZERO has confirmed that retail investors can now purchase and trade the platform’s security tokens. Holders of the platform’s TZROP token will receive a quarterly dividend of 10% of the company’s adjusted gross revenue.
The announcement is still subject from approval by the company’s board of directors but is certain to pass. The dividends can be paid out in either fiat USD, Bitcoin (BTC), Ether (ETH), or more security tokens.
The CEO of tZERO, Saum Noursalehi, said the announcement was a major milestone:
“Following the one-year anniversary of the close of our security token offering, non-accredited investors now have the ability to purchase and trade in our security tokens. Today marks another milestone as we further democratize access so all investors, regardless of net worth, can invest in the business opportunity of a blockchain-based capital market.”
tZERO is a subsidiary of Overstock.com, being both a trading and token issuance platform for securities. Those TZROP tokens purchased in August 2018 can now be resold under Rule 144 of the Securities Act of 1933. To trade TZROP, investors need to create an account on Dinosaur Financial.
It has been a long year for tZero. From working on its mobile trading app to integrating itself with Securitize’s Digital Securities (DS) Protocol, the milestone is a major step for the most visible security token to date.
Do you believe retail investors will be interested in trading tZERO’s token? Let us know your thoughts below in the comments.
Image courtesy of tZERO.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
