Overstock's Security Token Platform tZERO Wins New Crypto Integration Patent with Legacy Trading Tech

The security token trading platform tZERO won a new patent to integrate legacy trading systems with virtual currencies and crypto technology. The information was released by the U.S. Patent and Trademark Office (USPTO) a few days ago.

This patent described a platform that would be capable of combining market information from different sources and determine the best prices available. Before conducting a specific transaction the system would be able to secure the transactional items. Some of these items include cryptocurrencies, liabilities, commodities, tokens or even cash.

About the platform, the document explains:

“The Crypto integration Platform provides, among other things, an interface between legacy trading systems and crypto exchanges that trade digital transactional items.”

The document goes on noting that the Crypto Integration Platform takes a protocol for trading and communication between broker-dealers, alternative trading systems, exchanges and more. It transforms the message that is being sent using cryptographic techniques.

This technology verifies the ownership of all the items that are being transacted and ensures that the available items can only be transferred and exchanged. The company explains that the new platform would allow companies to launch Initial Public Offerings (IPOs) and other securities offerings.

The platform integrates both crypto with legacy trading systems. Apparently, the platform might be ready to be launched during this year, nevertheless, there is no specific date about it.

tZERO is a portfolio company that was developed by the digital retail giant Overstock. Overstock was one of the first major retailers in the market to start accepting payments in Bitcoin (BTC) for its products.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

175 +