The Future of Digital Assets
On July 26 around at 8:00 pm ET, Saum Noursalehi has announced in his twitter that tZERO crypto trading app is live. TZERO Crypto App is available in IOS with the Android version coming soon.
TZERO Is a majority-owned subsidiary of Overstock.com. Creating an innovative capital markets platform, and a two-sided network connecting issuers with investors. TZERO has launched its first ATS (Alternative Trading System) in January 2019. The only token to be traded at the platform is their own tZERO token. "The launch of TZERO Crypto App is a significant milestone in our plans to provide an intuitive experience for trading all digital assets,” tZERO CEO Saum Noursalehi said in a statement.
TZERO Crypto App is going to be available in IOS with the Android version coming shortly. The only two cryptocurrencies to be traded on the app are Bitcoin and Ethereum. TZERO Crypto is committed to compliance and these two cryptocurrencies were granted non-security status by SEC which makes them fully eligible to trade under the U.S. laws. Also, the wallet will introduce tZERO's innovative Private Key Recovery System. Which most of the crypto fans have been waiting to see for quite some time. Its groundbreaking wallet technology will allow holding your own private keys.
“tZERO Crypto is bringing a superb wallet into production, one with distinct advantages over other wallets currently in use,” said Patrick M. Byrne, Overstock.com founder and CEO. “One of those is that with tZERO’s Private Key Recovery System, your digital coins are truly held by you, in your wallet, rather than on an exchange in a pot with other fungible tokens. Not only is this more secure (if your coins are held in your wallet and not on an exchange, people cannot steal your tokens by hacking an exchange), but in addition, it is more true to the cypherpunk ethos of decentralization through cryptography. Yet with tZERO’s Private Key Recovery System, you do not face a risk in losing your passwords or devices. There are other reasons I believe that users are going to find the tZERO Crypto wallet superior to others on the market. In recent shareholders’ calls and an annual meeting, I emphasized that I believed that tZERO would have at least two significant announcements near the end of Q2. This is the first of them.”
The move is also to be seen as the way for The tZERO Inc. to boost revenues. The introduction of the app comes shortly after Bitcoin reaches its yearly ATH of $13,870 at 4:00 pm ET on June 26. Cryptocurrencies trading is one of the most profitable businesses these days, with major players like Coinbase Pro beating billions of dollars in trading volumes. On the other hand TZERO's token trading volumes were at $254,525 for the whole month of May, based on data from SecurityTokenCap.