TZero, a subsidiary of the retail giant Overstock, has announced a partnership with the BOX Digital Markets LLC (BOX Digital), an operator of the Boston Stock Exchange, which will create a trading platform for security tokens.
According to Business Wire, the listing of the new site will include the security tokens issued by start-ups. In addition, companies will be able to tokenize shares that are already represented on traditional exchanges.
The joint venture will be equally owned by tZero and BOX Digital. At the same time, each of the companies will have equal representation on the board of directors. By mutual consent, both companies will appoint one independent director.
The new company will be headed by Lisa Fall, General Director and President of the Boston Stock Exchange.
“In recent years, tZero has established itself as a pioneer in the development and practical application of block technologies in the capital markets,” notes Lisa Fall. – The successes and achievements of tZero in this innovative field, combined with the experience of BOX in managing a highly efficient and transparent stock options market, will make it easy to establish partnerships. We are striving to create a world-class platform for listing security-tokens and trading them.”
tZero will allocate funding for the new project and will license its own block-development, designed to support the work of the security-token market. In turn, BOX Digital will provide expert support to the joint project and will also promote harmonization of interaction with the regulators of the financial market.
Recall, in early April, tZero introduced a prototype of the upcoming block-trading platform for trading.