Overstock’s security trading platform tZERO is reportedly planning on the launch of its own cryptocurrency trading app later this year. The platform is expected to enable various kinds of cryptocurrency trade including Bitcoin and Ethereum.
A few days ago, soon after the company postponed selling its e-commerce business, tZERO publicly announced their intention to release the mentioned app in June without disclosing any detailed launching plan.
The startup revealed that the app is in its developing stage responsible by Bitsy, a tech startup that is involved with Medici Venture, another subsidiary of Overstock.
Regarding the planned mobile app, the CEO of tZERO, Saum Noursalehi, said:“Developing our mobile bitcoin trading app is part of the reasons we acquired Bitsy. They have an app for trading, primarily bitcoin, in a beta-phase, they built a crypto wallet and critical recovery system, and this will be the foundation of the mobile app for tZERO. They are also working on some exciting features like biometric login.”
He added that the app will allow users to have personal control over their crypto without depending on a third party, and will connect with exchanges network via tZERO’s partner, institutional trading platform SFox.
This plan gives more credence to Overstock’s deep interest in blockchain business as earlier this month, Medici Venture reportedly acquired stakes from a blockchain banking platform called Bankorous.