NEW YORK - August 20, 2019 (Investorideas.com Newswire) tZERO, the global leader in blockchain innovation for capital markets, through its tZERO Crypto unit, announced today its plans to offer to investors using both iOS and Android devices the ability to trade Ravencoin (RVN) on the tZERO Crypto app, in addition to bitcoin (BTC) and ethereum (ETH), which are already supported by the app.
tZERO submitted the iOS version of its updated app to the Apple store yesterday and will be submitting the Android version later today. Once the apps are approved by Apple and Google, investors on both iOS and Android devices will be able to trade Ravencoin cryptocurrency (RVN) on the tZERO Crypto app. Launched on June 27, 2019, the tZERO Crypto App allows investors to buy, sell and hold digital currencies directly on their mobile phone, rather than using more vulnerable, third-party exchanges for custody.
"In addition to being one of the fastest growing cryptocurrencies, Ravencoin is philosophically aligned with tZERO in making it easy to digitize assets and make them freely tradable," said tZERO CEO Saum Noursalehi. "Ravencoin allows for straightforward issuance and on-chain transfer of any digital asset, including security tokens, making support for RVN a natural fit for tZERO Crypto."
Ravencoin is an open-source project designed to enable instant payments to anyone around the world. Its aim is to create a blockchain optimized specifically for the transfer of digital assets, such as cryptocurrencies, from one holder to another. In addition to supporting the RVN cryptocurrency, the Ravencoin platform can be used to build and support security tokens, digital collectibles, utility tokens, gift cards, fiat currency or other user-defined assets.
"Ravencoin, which was recently named the Most Exciting New Coin of 2019, first had life breathed into it by Bruce Fenton," said Patrick M. Byrne, CEO of tZERO's parent company Overstock.com. "It's exciting enough that the tZERO Crypto app will let one trade RVN. In addition, Ravencoin's design makes it ideal to be woven into our grander vision of a blockchain tech stack for society," continued Byrne.
tZERO Crypto is committed to compliance and safety and utilizes 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. The app is now available for download on both iOS and Android devices and the updated functionalities will be available once approved by Apple. For more information on tZERO Crypto, please visit: https://www.tzero.com/crypto-app.
tZERO is a technology firm that was founded in 2014 with the goal of utilizing blockchain technology to revolutionize Wall Street so that financial processes could become less beholden to traditional institutional market structures and to bolster and enhance market integrity. tZERO is a keiretsu company of Medici Ventures, the blockchain subsidiary of Overstock.com, Inc. (NASDAQ:OSTK).
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 Group, Inc. tZERO Crypto and tZERO Group, Inc. 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. No broker-dealer affiliate of tZERO Group, Inc. is involved in the transactions and services offered by the tZERO Crypto App. tZERO Crypto is licensed as an authorized money transmitter in every jurisdiction in which it does business that requires such authorization. See the legal disclosures and list of tZERO Crypto's licensing authorities on https://www.tzero.com/crypto-app for more information.
Overstock.com, Inc Common Shares (OSTK) / Digital Voting Series A-1 Preferred Stock (Medici Ventures' tZERO platform:OSTKO) / Series B Preferred (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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