tZERO, retail giant — Overstock’s blockchain subsidiary company has opened its preferred equity security token which is being referred to as TZROP, for trading. The token will be available for trading by both accredited and non-accredited investors.
tZERO revealed while announcing TZROP that the token will enable investors to directly take part in the revenue growth of the company using a quarterly dividend model.
The CEO of tZERO, Sam Noursalehi said that:
“The world of security tokens has lacked a regulated venue for secondary trading. The trading of our own security tokens is the crossing of the Rubicon for the new world of digital assets. This will create liquidity, democratise access, bring transparency and efficiency to global markets and accelerate the adoption of security tokens.”
The publication then stated that the firm could give a quarterly dividend of 10% of its adjusted gross revenue to TZROP holders. This decision is however subjected to approval by the board of directors as well as Delaware law and accounting requirements…
In addition, the company stated explicitly that it could pay out these dividends in Ether (ETH), U.S. dollars, Bitcoin (BTC) or even with more security tokens.
Noursalehi referred to this development as a landmark in the democratisation of the blockchain capital market sector for investors.
“Following the one-year anniversary of the close of our security token offering, non-accredited investors now have the ability to purchase and trade in our security tokens. Today marks another milestone as we further democratise access to all investors, regardless of net worth, can invest in the business opportunity of a blockchain-based capital market.”
Previously, tZERO’s secondary trading of the security token was only available to accredited investors with Noursalehi claiming that the sale was democratising access to global markets.
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