The Intercontinental Exchange (ICE) has announced a strategic investment in the private digital securities market and the tZero cryptocurrency asset liquidity platform.
ICE, which owns and operates 12 global exchanges including the New York Stock Exchange (NYSE), made the announcement on Feb. 22, but there was no mention of the terms or details of the investment other than that ICE had become a “significant minority shareholder.” at tZero.
It said that as part of the investment, ICE Chief Strategy Officer David Gong would join tZero as the new CEO serving on the board.
tZero operates a blockchain-based alternative trading system (ATS) through which companies can list tokenized versions of their shares. The firm is fully regulated by the Securities and Exchange Commission (SEC) and acts as a broker-dealer in the digital asset space and also offers a range of cryptocurrencies. At the moment, the platform only offers a few tokenized stocks, one of which is an early investor in Overstock under the ticker OSTKO.
The target market of the platform is financial firms and investors who need access to the digital marketplace and unique private assets and stocks such as cryptocurrencies and non-fungible tokens (NFTs).
ICE Founder, Chairman and CEO Jeff Sprecher commented on Goon’s appointment, stating that he was “master of our problem solving culture” before adding:
“David’s leadership and prowess in trading, data and clearing technologies will be a great asset as tZERO begins its next chapter leading the growth and adoption of next generation market infrastructure.”
Gong, who has been with ICE since 2001, has extensive experience developing and managing many of ICE’s product lines during his tenure.
A Fortune 500 company, ICE is a leader in global exchanges and clearinghouses that provide financial technology and data processing services for major asset classes.
tZero had a rocky start after offering security tokens (STO) and numerous investments in 2020. At the time, the fledgling security token platform was still losing money, although this latest investment could give tZero access to new markets.
Related: Intercontinental Exchange sells stake to Coinbase for $1.2 billion
As Cointelegraph reported on Feb. 15, the NYSE is showing more interest in the digital asset space as it has filed a patent application for a range of cryptocurrency and blockchain-related products and services. These include an online marketplace for trading cryptocurrency assets, NFTs, and Metaverse technology such as augmented reality software.
The Intercontinental Exchange (ICE) has announced a strategic investment in the private digital securities market and the tZero cryptocurrency asset liquidity platform.
ICE, which owns and operates 12 global exchanges including the New York Stock Exchange (NYSE), made the announcement on Feb. 22, but there was no mention of the terms or details of the investment other than that ICE had become a “significant minority shareholder.” at tZero.
It said that as part of the investment, ICE Chief Strategy Officer David Gong would join tZero as the new CEO serving on the board.
tZero operates a blockchain-based alternative trading system (ATS) through which companies can list tokenized versions of their shares. The firm is fully regulated by the Securities and Exchange Commission (SEC) and acts as a broker-dealer in the digital asset space and also offers a range of cryptocurrencies. At the moment, the platform only offers a few tokenized stocks, one of which is an early investor in Overstock under the ticker OSTKO.
The target market of the platform is financial firms and investors who need access to the digital marketplace and unique private assets and stocks such as cryptocurrencies and non-fungible tokens (NFTs).
ICE Founder, Chairman and CEO Jeff Sprecher commented on Goon’s appointment, stating that he was “master of our problem solving culture” before adding:
“David’s leadership and prowess in trading, data and clearing technologies will be a great asset as tZERO begins its next chapter leading the growth and adoption of next generation market infrastructure.”
Gong, who has been with ICE since 2001, has extensive experience developing and managing many of ICE’s product lines during his tenure.
A Fortune 500 company, ICE is a leader in global exchanges and clearinghouses that provide financial technology and data processing services for major asset classes.
tZero had a rocky start after offering security tokens (STO) and numerous investments in 2020. At the time, the fledgling security token platform was still losing money, although this latest investment could give tZero access to new markets.
Related: Intercontinental Exchange sells stake to Coinbase for $1.2 billion
As Cointelegraph reported on Feb. 15, the NYSE is showing more interest in the digital asset space as it has filed a patent application for a range of cryptocurrency and blockchain-related products and services. These include an online marketplace for trading cryptocurrency assets, NFTs, and Metaverse technology such as augmented reality software.
