TZERO Shut Down Crypto Exchange

This information was sent to customers by the corporation on February 3 via its Twitter account in the form of a message. The cryptocurrency exchange known as tZERO is mostly owned by Overstock, and its last day of business will be March 6th of this year. As a result of the suspension, the company announced that it would maintain its concentration on the regulated securities products that it provides during the time that the United States Securities and Exchange Commission (SEC) and other authorities are working to clarify the legal status of crypto assets.

The city of New York is home to the headquarters of the firm known as tZERO, which is focused on developing technological solutions for the financial sector. This makes it considerably easier for private corporations to sell their assets on the public market whenever they find themselves in a position where they need to or want to do so. It is probable that the fact that tZERO provides investors with the opportunity to purchase tokenized shares is the factor that has contributed most to the company’s success in the cryptocurrency industry. Tokenized shares, which may also be referred to as “digital securities” due to their ability to be exchanged on a blockchain, are frequently referred to as “digital securities.”

The online retailer Overstock reportedly owns around 55% of the firm tZERO, as stated in a statement that was issued by the company on August 26 in the form of a press release.

The conventional cryptocurrency exchange known as “tZERO Crypto” was officially introduced in the year 2019, when tZERO celebrated its 10th anniversary. On this particular platform, users had the ability to purchase, trade, and store a wide variety of cryptocurrencies, some of which were Bitcoin (BTC), Ether (ETH), and Litecoin (LTC), amongst others. On the other side, the corporation stated in the most recent notice that it will stop operations of this exchange on March 6th. This notification was sent out on February 3rd and was the most current one that was sent.


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Binance partners with Indonesian telco to develop new crypto exchange

Major cryptocurrency exchange Binance has partnered with MDI Ventures, PT Telkom Indonesia’s venture capital arm, to establish a crypto exchange platform.

According to a joint announcement on Dec. 15, the agreement will also seek to broaden blockchain adoption throughout Indonesia, which is home to about 240 million people.

To assist with the development of the new exchange platform, Binance will provide asset management infrastructure and technology. The agreement will also seek to increase the application of blockchain technology in Indonesia more broadly.

The new partnership enables Binance to grow its operations in a nation where it already has an investment in crypto trading platform Tokocrypto. Binance CEO and founder Changpeng Zhao said:

“Our ambition at Binance is to grow the blockchain and cryptocurrency ecosystem globally, and this initiative in Indonesia is a significant step in that direction. With fast technology adoption and strong economic potential, Indonesia could become one of the leading centers of the blockchain and crypto ecosystem in Southeast Asia.”

Related: Binance reportedly wants global wealth funds to get a stake in exchange

MDI Ventures is a major Indonesian technology investment firm, with a global portfolio worth over $830 million across several industries. The statement did not reveal the identity of any other companies involved in the MDI-led consortium.

Binance, which faced significant regulatory restrictions throughout the second and third quarters of 2021, is now aiming to expand its presence across Asia. The Singapore affiliate of cryptocurrency trading behemoth Binance recently purchased an 18% stake in Hg Exchange, a local private securities exchange.