A New York-based institutional brokerage firm, Dinosaur Financial Group Ltd has announced its partnership with tZero (a provider of blockchain innovations for the capital markets). The partnership will see Dinosaur providing brokerage accounts for investors interested in the digital security tokens offered by tZero. These are one of the first offerings on a decentralized network intending to be fully-compliant with the U.S. securities laws.

Dinosaur Founder and Chairman Glenn Grossman said: “We are very pleased to have partnered with tZERO and PRO Securities and to offer our services to accredited investors interested in trading digital securities. Dinosaur is an agile business, and our clients expect us to use leading-edge technology, so today’s announcement should be no surprise. Working with blockchain technology is a natural step for me because of my previous work pioneering electronic trading in US Treasury markets.”

tZERO CEO Saum Noursalehi commented: “We’re very excited to be joining forces with Dinosaur as the broker-dealer for our new security token platform. With Dinosaur, we have found a firm that understands our vision to bring transparency and efficiency to global markets and accelerate the adoption of security tokens.”

Dinosaur Managing Director of Equity Trading Elliot Grossman said: “Becoming the provider of brokerage accounts for tZERO security token holders is a significant milestone for Dinosaur. Blockchain is changing how securities are traded and settled, and I am particularly proud that Dinosaur has joined with tZERO, tZERO’s broker-dealer subsidiary, PRO Securities (and the PRO ATS), PRO’s other partners  and Electronic Transaction Clearing to pioneer disruptive changes for issuance, trading, and settlement in the capital markets.” He continued, “tZERO’s security token is a digital security tracked via a blockchain protocol. It’s an evolutionary change that will reduce operational risk and drastically improve the process of clearance and settlement.”

Established in 2014, tZero is a subsidiary of the digital retailer Overstock.com and a Medici Ventures portfolio company, is one of the first companies to issue security tokens. In 2016, tZERO’s parent, Overstock.com, was the issuer of the world’s first public crypto security, and PRO Securities, the broker-dealer subsidiary of tZERO, introduced the concept of real-time trade settlement.

Established in 2000, Dinosaur is a New York-based brokerage firm and investment bank with experience in capital markets and a global reach.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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