Overstock‘s (NASDAQ:OSTK) subsidiary tZERO has added support for the Tezos blockchain. Recently, Tezos has seen renewed interest in its public blockchain specifically from digital securities issuers. tZero is a digital asset platform and the addition of Tezos marks the first blockchain outside of Ethereum supported by the platform.
tZERO states that Tezos’ smart contracts offer institutional-grade security and an advanced technique used to mathematically prove properties of programs that require extreme proofs of correctness.
Additionally, Tezos is built to evolve, with features such as the ability to upgrade itself via an on-chain governance process. Tezos is more energy efficient.
tZERO CEO Saum Noursalehi lauded Tezos as being remarkably strategic in its efforts to offer a blockchain for digital securities.
“Multiple issuers in our pipeline, including Alliance Investments’ River Plaza STO, have expressed interest in leveraging the Tezos blockchain,” said Noursalehi.
Tezos Foundation Council Member Hubertus Thonhauser said that tZERO is the leader in blockchain and capital markets. He said they look forward to working with them as more issuers select Tezos to issue digital securities.
Most industry followers accept that digital securities and smart contract incorporation is the future of capital markets due to the intrinsic reduction in friction and cost. A bigger question is to when this sector of Fintech will gain sufficient pace to scale, grow and supplant its more analog antecedent. tZERO has positioned itself as a digital asset platform poised to offer primary issuance as well as secondary transactions.