Overstock's tZERO Wins FINRA Approval to Launch Retail Broker-Dealer Subsidiary
The firm announced Thursday that FINRA approved its application to launch tZERO Markets, a retail broker-dealer subsidiary.
Sep 10, 2020 at 12:30 p.m. UTCUpdated Aug 19, 2021 at 4:15 a.m. UTC
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Security token platform tZERO announced Thursday the Financial Industry Regulatory Authority (FINRA) has approved its application to launch a retail broker-dealer subsidiary, tZERO Markets.
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- In a press statement emailed to CoinDesk, tZERO said the broker-dealer subsidiary will also offer investment banking and placement agent services to token issuers for capital raising activities.
- Because the subsidiary is registered with the SEC and has now been granted FINRA’s blessing, tZERO CEO Saum Noursalehi said the firm expects tZERO Markets to launch its services in the coming months.
- The statement added that depending on regulatory review, the platform’s launch would be web-based and later expanded to include Android and iOS devices.
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