Tzero Group Inc (TZROP)

[Roily23]

NEW YORK, February 23, 2022--(BUSINESS WIRE)--tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today that its broker-dealer subsidiary, tZERO ATS, successfully launched support for clearing and settlement securities transactions for itself and its broker-dealer affiliates on February 22, 2022, a key milestone for tZERO’s next-generation trading ecosystem. tZERO’s broker-dealer subsidiaries are now able to independently onboard additional private securities at a faster pace, accelerate the settlement times of transactions on its private security trading platform, and improve the user experience in transferring cash and securities to and from third-party platforms.

tZERO Interim Chief Executive Officer and Chief Legal Officer Alan Konevsky stated, "Yesterday’s launch was successful and will significantly increase the velocity at which we can onboard new assets to the tZERO ATS, giving customers a greater variety of investment opportunities and enabling increased liquidity for private capital markets."

This clearing and custody model supports the current and future private digital securities that trade on the tZERO ATS, which are uncertificated securities with focused blockchain functionality to increase transparency. It will also support NMS securities, which are public securities that trade on national exchanges.

In addition to supporting a traditional broker-dealer custody, tZERO expects, subject to regulatory approval, to implement parallel clearing, settlement, and custodial solutions to support digital asset securities, which are securities issued and settled on a blockchain, to its platform. This solution will initially be implemented through user-directed settlement in partnership with a custodian and, later, in conjunction and in accordance with the Securities and Exchange Commission (SEC)’s statement that outlined how broker-dealers can engage with digital asset securities, including maintaining custody of these assets and settling on-chain without a clearing firm or a custodian.

"tZERO is committed to transforming the current trading infrastructure of digital assets to support next-generation capital markets and innovating the ways these assets can be custodied and transferred. Being able to support next-generation infrastructure and settlement and clearance systems in place today will propel operational efficiencies and bring value to both the company and its stakeholders," concluded Konevsky.

tZERO is a technology firm with the goal of democratizing access to private capital markets. tZERO brings together issuers and financial firms seeking a transparent, automated, digitally enabled marketplace and investors seeking access to unique private assets, public equities, cryptocurrencies, and other digital assets, including non-fungible tokens. For more information, visit https://www.tzero.com/.