Online retailer Overstock’s security token network, tZERO, published today a letter summarizing its market performance over the past year and its 2020 plans, which include additional funding.

The review letter, written by Saum Noursalehi, tZERO CEO, focused on different aspects, including a proposed launch for a broker-dealer – called tZERO Markets – “in the first half of this year”.

Meanwhile, the firm stated that it is planning additional funding from external sources, in approximately 2 years. tZERO, launched a year ago, secured $5 million from GSR Capital funding in May, missing 98.7 percent of its fundraising goal.

“As Overstock management mentioned recently, it is committed to funding tZERO. As our business continues to develop in the first half of the year and we continue to hit milestones and prove out the business model further, it may become appropriate to approach external sources of capital in late 2020 or 2021,” Noursalehi wrote. “We would only do this, however, in a manner that enhances our business and stakeholder value.”

According to Noursalehi, tZERO put its target of listing five security coins on its exchange, tZERO ATS, during 2019. However, such a process delayed due to legal and regulatory issues.

In the meantime, tZERO has two exchange-listed tokens, and a broker-dealer, Dinosaur Financial.

“Much of our focus last year was on building. We allocated our capital, both human and financial, on acquiring the necessary regulatory approvals (which is on-going), developing our trading/digital securities technology, and building the leadership team necessary to advance our company vision,” said Noursalehi.

tZERO is a technology firm that was founded in 2014 with the goal of utilizing blockchain technology to revolutionize Wall Street so that financial processes could become less beholden to traditional institutional market structures and to bolster and enhance market integrity.

tZERO is a keiretsu company of Medici Ventures, the blockchain subsidiary of Overstock.com, Inc.

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