tZERO Launches Ravencoin (RVN) Trading on Crypto App

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

tZERO

tZERO Launches Ravencoin (RVN) Trading on Crypto App

August 22, 2019

The mobile trading platform, which already allows trading of bitcoin (BTC) and ethereum (ETH), was recently updated to add Ravencoin cryptocurrency (RVN). The tZERO Crypto app was launched on June 27, 2019, and allows investors to buy, sell and hold digital currencies directly on their mobile phone, rather than using more vulnerable, third-party exchanges for custody.

tZERO announced the launch Ravencoin (RVN) trading on the tZERO Crypto app, available for investors using both iOS and Android devices.

Saum Noursalehi, Chief Executive Officer at tZERO, commented: “In addition to being one of the fastest growing cryptocurrencies, Ravencoin is philosophically aligned with tZERO in making it easy to digitize assets and make them freely tradable. Ravencoin allows for straightforward issuance and on-chain transfer of any digital asset, including security tokens, making support for RVN a natural fit for tZERO Crypto.”

Patrick M. Byrne, CEO of tZERO’s parent company Overstock.com, said: “Ravencoin, which was recently named the Most Exciting New Coin of 2019, first had life breathed into it by Bruce Fenton. It’s exciting enough that the tZERO Crypto app will let one trade RVN. In addition, Ravencoin’s design makes it ideal to be woven into our grander vision of a blockchain tech stack for society.”

The Ravencoin platform can be used to build and support security tokens, digital collectibles, utility tokens, gift cards, fiat currency or other user-defined assets. It is an open-source project which aims to create a blockchain optimized specifically for the transfer of digital assets, such as cryptocurrencies, from one holder to another.

Founded in 2014, tZERO aims to use blockchain technology to revolutionize Wall Street so that financial processes no longer need to rely on traditional institutional market structures in favor of using blockchain to bolster and enhance market integrity.

tZERO has recently launched an Android version of its recent cryptocurrency mobile app, allowing investors to buy, sell and hold digital currencies directly on their mobile phone through the tZERO Crypto App, rather than using third-party exchanges for custody. The firm’s digital securities trading platform is designed to enable private resale transactions to accredited investors, consistent with U.S. securities law.

tZERO’s preferred equity security tokens (TZROP), which were issued in a private placement in August 2018, were recently made available to be resold to non-accredited investors through their account at Dinosaur Financial on the PRO Securities alternative trading system (ATS).

TZROPs have been traded by accredited investors since January 2019. The issuance of tZERO’s security tokens in August 2018 raised approximately $134 million in aggregate consideration from over 1,000 global investors. It had reached over $100 million USD in commitments from investors in the first 12 hours, with over 10,000 subscribers registered for accreditation ahead of the token sale.

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