Overstock is lending a hand to broker-dealers as it inches closer to its blockchain-powered stock issuance.

The e-tail giant said yesterday that it is working with stakeholders to boost education of how investors can successfully subscribe to the blockchain stock sale. The company first announced its intention to pursue a sale through this method earlier this year.

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

13:18

Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO

05:10

Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny

04:07

The first video of the year 2024

40:07

The last regression video of the year 3.67.0

According to Overstock, prospective buyers of those shares – which would be tied to digitized assets listed on a distributed ledger – have run into headwinds. More specifically, there have reportedly been instances in which broker-dealers simply aren’t sure how to go through the process.

Overstock CEO Patrick Byrne said of the effort:

"We're engineering an entirely new approach to finance, and as such, a steep learning curve among broker-dealers is not surprising. We’re working with all the involved players and are confident that with just a little patience, individuals on both ends of this transaction can navigate it successfully."

STORY CONTINUES BELOW

Recommended for you:

Overstock is expected to issue as many as 2 million shares, and could raise as much as $30m from the effort. The e-tailer launched its crypto-backed exchange, dubbed tø, in August 2015.

Image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.