Overstock shares jump after investment in blockchain subsidiary

The stock rose 4.47 percent during the trading day and closed at $38.60 per share.

“We are honored to have GSR Capital as a strategic investor,” said tZERO CEO Saum Noursalehi in a statement. “The tokenization of securities has the potential to disrupt global capital markets responsible for moving hundreds of trillions of dollars. Together with our partners, we will globalize our blockchain-based platform, bringing more efficiency, liquidity, and trust to capital markets.”

Overstock launched the tZero cryptocurrency via an initial coin offering on Dec. 18 of last year.

Be the first to comment

Leave a Reply

Your email address will not be published.