Yesterday, the Intercontinental Exchange (ICE), the New York Stock Exchange (NYSE) parent, announced a strategic investment in security token platform tZero. ICE’s Chief Strategy Officer David Goone becomes the startup’s CEO following the resignation of tZERO’s CEO in August last year. The terms of the deal were not disclosed by ICE became a significant minority investor.
The investment is part of tZERO’s latest funding round. Notably, tZERO is no longer described as a subsidiary of Overstock, which invested in the round alongside Medici Ventures, in which Overstock is the sole limited partner.
A tZERO subsidiary operates an SEC-regulated alternative trading system (ATS) and broker-dealer for the issuance and trading of tokenized stocks. Its own stock, TZROP, is listed on the ATS.
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