tZERO Announces $270 Million Investment from GSR Capital

Touted as the world’s first security token exchange, tZERO is a blockchain subsidiary of retail giant Overstock.com. On Aug. 9, tZERO announced a $270 million investment from GSR Capital. Overstock Share Prices Rally Following tZERO Investment Hong Kong-based private equity firm GSR Capital has revealed plans to purchase 18 percent of tZERO’s equity for $270 million. In total, GSR will invest up to $374.55 million in tZERO in exchange for common equity in both the blockchain subsidiary and Overstock. The purchase agreement also states that GSR will buy $30 million in tZERO security tokens from Overstock in addition to 3.1 million shares of OSTK common stock. t0.com (tZERO) is a majority-owned subsidiary of retailer Overstock.com that was established with the mission of integrating commercial-scale blockchain applications into the financial sector through a new security token software. In a press release, tZERO CEO Saum Noursalehi expressed excitement for the company’s new partnership:

Like this article? Take a second to support us on Patreon!