Overstock.com has announced at the 41st Annual International Futures Industry Conference its plan to complete the world’s first public offering using proprietary Blockchain technology. The offering will allow Overstock.com shareholders to purchase Overstock.com Blockchain or traditional preferred stock. The Blockchain preferred stock will trade and settle exclusively through the t0.com platform and its alternative trading system (ATS).
t0.com is Overstock.com’s financial technology subsidiary and the leader in developing and deploying Blockchain-based financial products to increase efficiency and transparency in capital markets.
“This is yet another historic event — the creation of a security that will trade and settle entirely on a distributed ledger,” said Patrick M. Byrne, CEO of t0.com.
“I’ve said from the beginning that blockchain technology is going to change the world of finance forever, and we’re leading that charge.”
The offering, issued pursuant to an SEC-effective registration statement, is contemplated to be limited to Overstock.com shareholders of record as of a date to be determined, and will be of up to an aggregate of 1,000,000 shares of blockchain and traditional Series A preferred stock.
Overstock.com issued the world’s first private blockchain cryptobond in June 2015, and now plans to issue the world’s first public blockchain security on the t0.com platform.
Since its initial public offering, Overstock.com has relied on Computershare for transfer agent services; Computershare will extend its global registry and transfer agent services to Overstock.com for this offering.
- Utrust Joins Forces with Alternative Airlines for Flight Bookings with Crypto - November 13, 2019
- Dark Web Drug Dealer Pleads Guilty To Using Cryptocurrency to Launder More Than $19 Million - November 13, 2019
- Dutch Police Bust CEO of Blockchain Game Firm, Komodore64 – €78 million Gone? - November 13, 2019
- Celsius Hits over $4 Billion in Crypto Loans – Leading the Industry - November 12, 2019
- Coinbase Introduces Staking Rewards on Tezos - November 6, 2019
- Volvo Cars to implement blockchain traceability of cobalt used in electric car batteries - November 6, 2019
- EU-Funded Acceleration Project, LEDGER, Offering Support Services and Up to €200k Equity-Free for Blockchain Data Governance Projects - November 6, 2019
- Global Financial System Regulators – the Financial Action Task Force – Issue Draft Guidance on Digital Identity - November 5, 2019
- David Chaum Releases XX Alpha Messenger Promising Unprecedented User Privacy - November 5, 2019
- Æternity Blockchain Developers Plan to Take On Ethereum With Final Hardfork – Handing over Governance to the Community - November 5, 2019
- Researchers Claim Cross-border B2B Blockchain Transactions set to Explode to $4.4 Trillion by 2024 - November 5, 2019
- Global Companies Unite to Unveil Comprehensive Framework for Tokenization – It’s About Time - November 5, 2019
- Microsoft Kicks Off Enterprise-ready Crypto Token Platform On Azure – Predicts Tokenization Is A Pillar Of The Coming Revolution In Multi-Party Applications That Blockchain Technology Ushered In - November 5, 2019
- Polish-British Blockchain Company Billon to Digitise Euro in Deal with Raiffeisen Bank International - November 5, 2019
- 500.com Limited Releases Intel on Blockchain Technology for China’s Lottery Industry - November 4, 2019
- Oxfam, Etherisc, and Aon Find Success with First Blockchain-Based Agricultural Insurance Policies for Smallholder Farmers in Sri Lanka - November 4, 2019
- Interview: Brock Pierce and Two Prime’s Alexander S. Blum - November 4, 2019
- Samsung Bullish on Blockchain – Pushing for Developers on New Samsung Blockchain Platform SDK - November 1, 2019
- Busted: SEC and CFTC Nail First Global Credit – a Swiss Security-Based Bitcoin Swaps Dealer That Allegedly Aimed at American Investors - November 1, 2019
- Zilliqa and Oxford Women in Computer Science Society Join to Bring Diversity to Blockchain Sector - November 1, 2019