tZERO, a blockchain subsidiary of online retailer Overstock, has just announced it plans to roll out a broker dealer in the US during the second half of 2020.
According to an article published by Forbes on Thursday, tZERO's CEO Saum Noursalehi said the company wants to boost the adoption of cryptocurrencies, security tokens and trading with a one-stop-shop. However, before this happens, the company must receive the corresponding license from the authorities.
The license application, which was submitted earlier this year by tZERO Markets, would allow the company to offer trading services for shares, traditional securities, cryptos and digital assets.
The company's CEO, who believes the firm will receive the approval from regulators during the second half of the year, plans to use tZERO's crypto wallet app to "expand the adoption for security token trading."
According to him, the number of users using the wallet has jumped by 40% during the first quarter and is likely to continue this trend for the rest of the year.
Noursalehi believes the coronavirus pandemic has resulted in users becoming increasingly dependent on blockchain and Overstock:
"Several of our blockchain companies have received public attention because the problems they are solving using blockchain technology have been brought into the spotlight in the current pandemic. Areas like mobile voting, digital identity, digital currency, and supply chain tracking have become more important in our COVID-19 world."
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