Overstock Subsidiary tZERO to Develop Smart Contract Token for Rare Metals Sale
Cointelegraph
Published Dec 17, 2018 23:45
Updated Dec 18, 2018 00:15
Private equity firm GSR Capital has contracted Overstock.com (NASDAQ:OSTK) Inc.’s subsidiary tZERO Group Inc. to develop a smart contract token for a sale of cobalt, according to a press release published Dec. 17.
tZERO and Hong Kong-based GRS Capital’s partnership is focused on developing an ecosystem in Asia for tokenized commodity purchase contracts that would purportedly improve the supply chain process of rare metals. Additionally, the parties are looking to launch a security token platform in the region, following compliance with relevant regulatory requirements.
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Written By: Cointelegraph
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