($OSTK) tZERO Subsidiary Launches Cryptocurrency Mobile App
New wallet allows for efficient and secure trading of bitcoin and ethereum
NEW YORK - June 27, 2019 (Investorideas.com Newswire) tZERO, the global leader in blockchain innovation for capital markets, through its tZERO Crypto unit, has launched its digital wallet and exchange services app (the "tZERO Crypto App") for cryptocurrencies. Investors who want to participate in the global cryptocurrency market will be able to buy, sell, and hold these digital assets directly on their mobile phone through the tZERO Crypto App, rather than using more vulnerable, third party exchanges for custody.
The initial release of the app will support bitcoin and ethereum purchases, two currencies that are vetted for longevity. tZERO Crypto is committed to compliance and safety and will utilize biometric authentication for added security and ease of use. Investors will also have access to tZERO's unique private key recovery system to restore their funds and cryptocurrencies in the event that they lose their private keys or mobile phone.
"We are excited to introduce the ability to trade and store cryptocurrencies in your mobile wallet," said tZERO's CEO, Saum Noursalehi. "The tZERO Crypto App is a significant milestone in our plans to provide an intuitive experience for trading all digital assets."
The app is available for download today on iOS, and will be coming soon to Android. For more information on tZERO Crypto, please visit: https://www.tzero.com/crypto-app.
Nicole Keller, +1-212-754-5423
About tZERO and tZERO Crypto
tZERO Group, Inc. ("tZERO") is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception, tZERO has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology.
tZERO Crypto is operated as a dba of Bitsy, Inc. and is a wholly owned subsidiary of tZERO. tZERO Crypto and tZERO are not a registered broker-dealers, underwriters, investment banks, or investment advisers, and are not providing brokerage, investment banking or underwriting services, recommendations or investment advice to the users of the tZERO Crypto app (Beta). No broker-dealer affiliate of tZERO is involved in the transactions and services offered by the tZERO Crypto App. See the legal disclosures on https://www.tzero.com/crypto-app for more information.
Overstock.com, Inc Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures' tZERO platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new products at low prices, including furniture , décor , rugs , bedding , home improvement , and more. The online shopping site, which is visited by nearly 40 million customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures, its wholly-owned subsidiary developing and accelerating blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended March 31, 2019, which was filed with the SEC on May 9, 2019, and any subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.
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