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Overstock.com Rises 23% on Blockchain News

 
 
 

OSTK, Overstock.com Inc.

OSTK subsidiary to launch first Alternative Trading System for ICOs.

Released on Wednesday, September 27, 2017, 4:40 PM ET
by Email Russ UrbanContact SpeculatingStocks



Pittsburgh, PA (SpeculatingStocks) - Overstock.com, Inc. (NASDAQ:OSTK) announced this morning that through their subsidiary, tZERO, there will be a joint venture created with other market-leading blockchain players: RenGen LLC and the Argon Group. This is massive news for OSTK because the joint venture will be tasked with launching the first Alternative Trading System for security tokens issued during Initial Coin Offerings, known as ICOs.

There has been a significant need to provide an exchange of sorts for digital tokens generated by ICOs due to regulatory compliance and the drastic increase in popularity of Initial Coin Offerings. According to CNBC, in the first half of this year, more money has been invested in fintech with cryptocurrencies than through VC.


This exchange will accelerate the adoption of blockchain-related securities through security tokens, bonds, and other asset classes. The joint venture will blend order routing / electronic trading technology, ICO understanding and expertise, regulatory compliance, and other facets together to create the World's first blockchain exchange in the United States.

This all is quite the powerhouse of a Joint Venture that has been brought together and should be valued as such. Competition should be extremely low in the space, and virtually non-existent at first, a smart blue ocean strategy by all sides.

OSTK is currently valued at a market cap of $723 million. Blockchain technology is expected to be worth over $7.7 billion by 2024, just within the next six years! Imagine if cryptocurrency passes up fiat currency long-term. The NASDAQ (NASDAQ:NDAQ) is worth $12.86 billion. As you can imagine, this could be a huge boon to OSTK being involved in this blockchain exchange.

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⇒ About the Author of this News Article:

Russ Urban has been following the stock market for over 17 years and holds a Bachelor's Degree in Finance. From a young age, he watched CNBC with a keen eye and became obsessed with the market and technology. Russ Urban has written hundreds of stock articles and stock picks through the years since he founded SpeculatingStocks.com, Inc. in 2006 and holds strong faith in the power of the markets and capitalism.

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