Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), has just announced it has made a strategic investment in tZERO, the operator of a security token trading platform.
Notably, tZERO operates through a subsidiary a regulated alternative trading system (ATS) and is a broker-dealer in the digital asset space. According to the release:
"tZERO brings together issuers and financial firms seeking a transparent, automated, digitally enabled marketplace and investors seeking access to unique private assets, public equities, cryptocurrencies, and other digital assets, including non-fungible tokens (NFTs)."
Under the terms of the agreement, David Gong, from ICE's management team, will assume the position of CEO of tZERO and join the company's board of directors.
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The amount of money ICE has invested in tZERO remains unknown. The company will become a "significant" minority shareholder in the platform operator.
It is worth noting that other companies such as Overstock.com, an original investor in tZERO and Medici Ventures have also invested in the platform.