Overstock’s tZERO Platform to Launch Trading App in June

Overstock’s security token trading platform tZERO is set to launch a trading app this summer, to let users buy and sell security tokens on their smartphones, and potentially also to trade with bitcoin and ether.

The app will be available on iOS and Android devices, and is scheduled to launch in June.

It is now in development by Bitsy, a startuo funded by Overstock’s venture arm Medici Ventures.

tZERO’s CEO, Saum Noursalehi (on the photo above) stated that they invested into Bitsy partly because it can “accelerate time to market” of its mobile app:

“This will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login”.

The app will let users hold their cryptocurrencies and security tokens without relying on third-parties, and will connect the users to a network of exchanges through an institutional trading platform called SFox.

In the future, the security token trading platform is set to hold its own cryptocurrencies to satisfy user demand. It’s also looking to acquired a retail broker-dealer license, to let users trade security tokens and traditional stocks through the app.

tZERO itself has so far only been trading its own native token TZEROP, but is reportedly looking to add more. Per Noursalehi, companies it’s in talks with include some related to real estate, private equity, and pharmaceuticals.

The CEO was quoted as saying the firm has been “been a bit more selective than other alternative trading systems out there” as it wants to ensure “the companies that want to issue tokens with us are well-funded, have revenues and will be around in the next three-four years.”