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- Total number of cryptocurrency coins available to 15 and corresponds to recent improvements to the tZERO crypto app
- Clients of the company will be able to trade in the most popular altcoins directly on the company’s trading platform
- As part of its basic service, the app now enables deposit limitations of $25,000 per day
In a press release today, Overstock.com’s blockchain subsidiary tZero revealed that it has integrated additional popular cryptocurrencies or tokens to its proprietary platform. tZero will support Bitcoin Cash (BCH), Stellar Lumen (XLM), Cardano (ADA), Compound (COMP), and Uniswap as of October 4th (UNI).
This boosts the total number of cryptocurrency coins available to 15 and corresponds to recent improvements to the tZERO crypto app. The new cryptocurrencies will be added to tZERO’s existing digital asset portfolio, which includes Bitcoin, Ethereum, Litecoin, Chainlink, Dogecoin, USDC, 0x, Bitcoin SV, Basic Attention Token, and Ravencoin, among others.
Clients of the company will be able to trade in the most popular altcoins directly on the company’s trading platform, making it easier for them to access a wider range of crypto assets and not just the major two or three.
Adding more Altcoins
tZERO has been adding altcoins to its portfolio at a rapid pace. While the introduction of its platform and slow adoption of crypto products took place in 2020, the company’s most recent expansions have been spurred by consistent demand for more diverse options.
The move comes after tZERO released major upgrades to its crypto programme, including faster settlement times and increased purchasing limits: As part of its basic service, the app now enables deposit limitations of $25,000 per day.
tZERO Crypto has also teamed up with a third-party custodian to keep investors’ funds safe in a regulated hosted wallet environment.
The main aim is to enhance the amount and range of appealing and compliant assets on the company’s platform and related products, said tZERO Interim CEO and Chief Legal Officer Alan Konevsky. He continues to say that the company’s ability to execute against the company’s strategic priorities is demonstrated by today’s news. The company intends to expand the product offerings and add more coins in the near future as the firm works to provide a unified user experience across all of the securities and cryptocurrency products, including NFTs and other digital asset classes.
Service to individual traders
tZERO Markets, tZERO’s broker-dealer business, provides buy- and sell-side clients with crypto sales, trading, electronic execution, and portfolio execution. The Securities and Exchange Commission (SEC) has licenced tZero’s retail brokerage service, which permits the company to serve individual traders instead of only accredited investors. In addition, it provides investment banking and placement agency services to token issuers in connection with capital raising activities.
tZERO expects to trade more digital assets in the future, but warns that adding new coins would require extensive legal and financial due diligence, as well as regulatory considerations, to ensure that only high-quality assets trade on the tZERO platforms.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
