New York-based brokerage outfit Dinosaur Financial Group has teamed with tZero Group for digital securities trading on blockchain.
Dinosaur is the broker-dealer to provide brokerage accounts for investors seeking to trade tZero’s digital security tokens.
Elliot Grossman, Dinosaur MD of equity trading, comments: “Blockchain is changing how securities are traded and settled.”
He adds: “tZero’s security token is a digital security tracked via a blockchain protocol. It’s an evolutionary change that will reduce operational risk and drastically improve the process of clearance and settlement.”
Salt Lake City-based tZero, a subsidiary of the digital retailer Overstock.com and a Medici Ventures portfolio company, says it is one of the first companies to issue security tokens.
In 2016, Overstock.com was the issuer of the “world’s first public crypto security”, and PRO Securities, the broker-dealer subsidiary of tZero, “introduced the concept of real-time trade settlement”.
Dinosaur Merchant Bank, a challenger bank, and Dinosaur Financial Group, are both subsidiaries of Dinosaur Group Holdings.