NYSE Operator Buys Stake in tZERO, the Security-Token Platform

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), announced strategic investments in the operator of the blockchain platform for trading security tokens tZERO.

Through its subsidiary, tZERO operates a regulated alternative trading system (ATS) and acts as a broker-dealer in the digital assets space.

“tZERO brings together issuers and financial firms seeking a transparent, automated market, and investors needing access to private and public shares, cryptocurrencies, and other digital assets, including non-fungible tokens,” the statement said.

Under the terms of the deal, David Gun from ICE’s executive team will assume the post of CEO of tZERO and will join the board of directors.

The size of the investment was not disclosed, with ICE noting that it would become a “significant” minority shareholder of the platform operator.

Other participants in the financing round included Overstock.com, the online retailer that founded tZERO, and the Medici Ventures fund.

Earlier in January, the U.S. Securities and Exchange Commission оштрафовала tZERO $800,000 for violations of federal rules governing ATS operations.