Financial News
tZERO’s Digital Asset to Fiat Account Funding Feature Continues to Expand - Will Support Bitcoin & Ethereum
tZERO Markets Customers Will Be Able to Fund Their Accounts Following a BTC, ETH, or USDC to Fiat Conversion
tZERO, a leader in blockchain innovation and liquidity for digital assets, announced that its private digital security trading platform will now enable customers to fund their brokerage accounts using bitcoin (BTC) and ethereum (ETH) starting on October 5, 2021, in addition to USD Coin (USDC), which is already supported. Through this technology enhancement, users will be able to sell their BTC and/or ETC through their third-party custodial accounts and cryptocurrency wallets, and efficiently transfer the fiat USD proceeds to their tZERO Markets brokerage account. This feature comes ahead of tZERO’s expected merge of the private digital security and cryptocurrency user experience to create one, UX-first cross-asset experience in Q4 2021.
tZERO Interim CEO and Chief Legal Officer Alan Konevsky stated, “tZERO Markets customers will be able to use our digital asset to fiat account funding feature with the two largest cryptocurrencies by market cap, bitcoin and ethereum. This is a great accomplishment as we look to continue to improve our customer experience, which includes continuing to expand this functionality to a variety of cryptocurrencies so users are able to fund their accounts with their currency preference.”
All tZERO Markets customers will have access to this enhanced functionality. Through the tZERO Markets user interface, a user will have access to a third-party application of a custodial bank. In the custodial bank’s application and subject to any third-party fees of the custodian, the user will be able to open a custodial bank account, deposit BTC and/or ETH in their custodial account, convert their crypto assets to fiat, and then deposit the fiat into their brokerage account, which can be used for securities trading on the tZERO ATS.
Investor Notice
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by tZERO or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
Forward-Looking Statements
This release contains forward-looking statements. In addition, from time to time, tZERO, its subsidiaries, or its representatives may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which is derived from currently available information. Such forward-looking statements relate to future events or future performance, including financial performance and projections; growth in revenue and earnings; and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including, without limitation: the ability of tZERO and its subsidiaries to change the direction; tZERO’s ability to keep pace with new technology and changing market needs; and competition. These and other factors may cause actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or their respective representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions. tZERO, its subsidiaries, and its representatives are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or its representatives might not occur.
About tZERO
tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system. tZERO, through its broker-dealer subsidiaries, democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. For more information on tZERO, please visit https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.
About tZERO Markets
tZERO Markets, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO Markets may be found at https://brokercheck.finra.org/. Digital securities available on tZERO Markets’ platform are conventional uncertificated securities. Ownership of such securities is reflected on the traditional books and records of regulated market participants. The term "digital" refers to the blockchain technology elements of a security that are intended to enhance investor experience through added transparency.
About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO ATS may be found at https://brokercheck.finra.org/. Digital securities that trade on tZERO ATS are conventional uncertificated securities. Ownership of such securities is reflected on the traditional books and records of regulated market participants. The term "digital" refers to the blockchain technology elements of a security that are intended to enhance investor experience through added transparency.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210927005245/en/
Contacts
tZERO
Alexandra Sotiropoulos, +1-347-293-1416
asotiropoulos@tzero.com
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