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tZERO, a leader in blockchain technology for digital assets, released an investor letter detailing significant progress in 2020. Key achievements include a 10x increase in digital securities traded, a 318% growth in the tZERO Crypto app, and onboarding Overstock's digital preferred dividend (OSTKO). For 2021, tZERO plans to enhance oversight through Pelion Venture Partners and seeks to raise capital to accelerate growth. The company aims to democratize access to private capital markets and merge trading experiences for various asset types. CEO Saum Noursalehi expresses optimism for future prospects.
tZERO, a leader in blockchain innovation, announced a strategic partnership with Prime Trust to enhance digital asset custody and trading. This collaboration aims to replace outdated financial systems with advanced technology, enabling users to directly custody digital securities and cryptocurrencies. The partnership includes a technology agreement that streamlines transaction processes and improves trading experiences. Additionally, tZERO ATS is pursuing self-clearing capabilities for better operational flexibility. This initiative represents a significant step forward in modernizing digital asset trading and custody.
Overstock (OSTK) has announced the conversion of its blockchain subsidiary, Medici Ventures, into a limited partnership with Pelion Venture Partners as the general partner. This strategic move aims to enhance shareholder value by leveraging Pelion's expertise in early-stage blockchain investments. Overstock's total commitment to the fund is $45 million, with a focus on successful exits from investments, including a significant stake in tZERO Group. The investor call is scheduled for January 26, 2021, at 8:30 a.m. ET, to discuss these developments.
Overstock.com (NASDAQ:OSTK) announced that Canadian investors can now trade its Series A-1 preferred shares (OSTKO) through Echelon Wealth Partners, utilizing the tZERO ATS platform. CEO Jonathan Johnson emphasized the importance of enhancing access to these shares. Echelon, a prominent Canadian wealth management firm, manages over $6 billion in assets and serves various clients across the country. Interested investors can contact Echelon for transactions related to OSTKO shares.
Overstock.com (NASDAQ:OSTK) announced its participation in the Needham & Co. 23rd Annual Growth Conference, where CEO Jonathan Johnson and CFO Adrianne Lee will present. The virtual conference is scheduled for January 14 at 10:00 AM EST. Johnson expressed gratitude for the opportunity to share Overstock's growth narrative, emphasizing its relevance in the current investment landscape. Overstock is a prominent e-commerce retailer, known for its blockchain advocacy and broad range of low-priced home products.
tZERO has completed a technology integration with FlexTrade, enabling D.A. Davidson to commence trading on the tZERO ATS for Overstock's Series A-1 shares (OSTKO). This marks a crucial milestone in enhancing investor participation, with D.A. Davidson's customers gaining access to innovative digital securities. Currently, tZERO ATS boasts seven active subscribers and has signed two more agreements with broker-dealers interested in digital securities, further expanding its market presence.
Overstock.com (NASDAQ:OSTK) announced its participation in the Credit Suisse 24th Annual Technology Conference on December 2, 2020. CEO Jonathan Johnson and CFO Adrianne Lee will engage in investor meetings and a fireside chat. Johnson expressed gratitude for the opportunity to connect with investors, emphasizing Overstock's commitment to transparent communication. The virtual conference will be accessible to registered attendees, aligning with Overstock's ongoing dialogue with the investment community.
tZERO, a subsidiary of Overstock.com, has integrated its ATS with Refinitiv's financial data services, enhancing market visibility for digital securities. This enables over 40,000 institutions to access Level 1 market data on tZERO ATS, potentially increasing adoption of digital securities. CEO Saum Noursalehi highlighted the importance of this integration in broadening awareness and accessibility. However, the release also included a cautionary note on investment risks, including lack of liquidity and potential principal loss.
Overstock.com has declared a cash dividend of $0.16 per share for its Series A-1 and Series B Preferred Stock, payable on December 16, 2020. Shareholders of record as of November 30, 2020 will be eligible. CEO Jonathan Johnson emphasized this marks the fourth consecutive year of dividend payouts and the highest amount ever distributed, showcasing the company's strong balance sheet. The ex-dividend date is projected for November 27, 2020.
