Financial technology company tZERO Group Inc. has reported it has received approval from US regulators to operate as a special purpose broker-dealer for the custody of digital asset securities.
This makes tZERO the second company to receive this license. Both the SEC and the Financial Industry Regulatory Authority have given their approval for tZERO to offer digital asset custody services.
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tZERO's executive vice president and chief legal and corporate affairs officer, Alan Konevsky, has said the company intends to use this opportunity to showcase the positive impact of regulatory clarity on innovation and product development in the digital asset industry.
tZERO joins Prometheum, another digital asset firm, which was granted a special purpose broker-dealer license by the SEC and FINRA last year to provide clearing and settlement services for digital asset securities.