NY stock exchange owner ICE buys stake in tZero security token platform

The Intercontinental Exchange (ICE) has announced a strategical concern successful backstage integer securities marketplace and crypto plus liquidity level tZero.

ICE, which owns and operates 12 planetary exchanges including the New York Stock Exchange (NYSE), made the announcement connected Feb. 22, however, determination was nary notation of the presumption oregon details of the concern different than ICE becoming a “significant number shareholder” successful tZero.

It did state that arsenic portion of the investment, ICE’s Chief Strategy Officer David Goone volition articulation tZero arsenic its caller CEO serving connected the committee of directors.

tZero operates a blockchain-based alternate trading strategy (ATS) upon which companies tin database tokenized versions of their stocks. The steadfast is afloat regulated with the Securities and Exchange Commission (SEC) and acts arsenic a broker-dealer successful the integer plus space, besides offering a fig of cryptocurrencies. The level lone offers a fistful of tokenized stocks astatine the moment, 1 of which is aboriginal capitalist Overstock nether the ticker OSTKO.

The platform’s people marketplace is fiscal firms and investors seeking entree to a integer marketplace and unsocial backstage assets and equities specified arsenic cryptocurrencies and nonfungible tokens (NFTs).

ICE founder, Chairman, and CEO, Jeff Sprecher, commented connected Goone’s assignment stating that helium has been a “steward of our problem-solving culture,” earlier adding:

“David’s enactment and his mastery of trading, data, and clearing exertion volition beryllium a large plus arsenic tZERO begins its adjacent section starring the maturation and adoption of next-generation marketplace infrastructure.”

Goone, who has been with ICE since 2001, brings a batch of acquisition to the array having developed and managed galore of ICE’s merchandise lines during his tenure.

ICE is simply a Fortune 500 steadfast and person of planetary exchanges and clearinghouses that supply fiscal exertion and information services crossed large plus classes.

tZero got disconnected to a rocky commencement pursuing its information token offering (STO) and galore investments successful 2020. At the time, the fledgling information token level was inactive losing money, though this latest concern could supply entree to caller markets for tZero.

Related: Intercontinental Exchange sells Coinbase involvement for $1.2 billion

As reported by Cointelegraph connected Feb. 15, the NYSE is showing a greater involvement successful the integer plus abstraction arsenic it filed a patent application for a fig of crypto and blockchain-related products and services. These see an online marketplace for trading crypto assets, NFTs, and Metaverse exertion specified arsenic augmented world software.