The popular blockchain company for capital markets, tZERO, announced a new collaboration with the Tezos Foundation. The Overstock subsidiary aims to support more blockchain platforms outside of Ethereum. Therefore, the firm’s digital securities protocol will also utilize the Tezos blockchain.
tZERO On Tezos Blockchain
tZERO, the blockchain project of the giant American internet retailer – Overstock – announced its newest partnership with the Tezos Foundation earlier today. Consequently, its digital securities protocol will now support the open-source, public blockchain for assets and applications – Tezos.
According to the statement, this integration marked the initial steps of tZERO in supporting other blockchain networks aside from Ethereum. Thus, potential digital securities issuers wanting their projects to be compatible with the tZERO ecosystem will have more technological options available.
Saum Noursalehi, CEO of tZERO, noted that the partnership comes after substantial requests from existing company customers:
“The Tezos Foundation has been remarkably strategic in its efforts to make Tezos become the blockchain for digital securities, and we are pleased to support them in our open-source protocol. Multiple issuers in our pipeline, including Alliance Investments’ River Plaza STO, have expressed interest in leveraging the Tezos blockchain.”
The Overstock subsidiary’s mission is to utilize distributed ledger technology into making financial services more efficient, accessible, and transparent.
The Expansion Of Tezos
Tezos Foundation Council Member Hubertus Thonhauser commented on the tZERO collaboration, implying that more similar projects are adopting his firm’s network:
“tZERO is a leader in blockchain innovation for capital markets, and we support the company’s aim of fostering the adoption of digital securities. We applaud tZERO for integrating the Tezos blockchain into its protocol, and we look forward to working with them as more issuers choose to use Tezos to support digital securities.”
The popular blockchain company has been somewhat active in the past few weeks. As Cryptopotato reported recently, Tezos Southeast Asia (TSA) partnered with the Association of Chartered Certified Accountants (ACCA) to employ the Tezos blockchain for accounting services and education products.