tZero Taps Elliot Grossman as CEO of its Broker-Dealer Arm

Overstock.com’s blockchain subsidiary tZero has named Elliot Grossman to guide its soon-to-be-launched broker-dealer arm. The upcoming firm’s CEO is a key member of the group behind Dinosaur, led by father-son pair, Glenn and Elliot Grossman, and has practically twenty years of expertise in digital markets globally.

Most just lately, Grossman served because the managing director of fairness buying and selling on the New York-based brokerage agency and funding financial institution. Dinosaur already gives brokerage accounts for traders searching for to commerce tZERO’s digital safety tokens via a partnership with tZERO’s broker-dealer subsidiary, PRO Securities.

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In his new position, Grossman can be main the institution and administration of tZero’s anticipated retail brokerage providers, which incorporates gross sales buying and selling, digital execution and portfolio execution for buy- and sell-side purchasers.

tZERO hopes to serve retail merchants, not solely accredited traders

He will capitalize tZero’s regulatory approval to function in its place buying and selling system (ATS), which goals to create a means for firms to tokenize fairness and challenge it on a blockchain with out operating afoul of regulatory obligations.

The new subsidiary may even present secondary market ‎liquidity for ICO tokens which might be supplied and offered as securities. tZERO hopes to launch its personal retail broker-dealer throughout the coming months to seize the capability to serve retail merchants as a substitute of solely accredited traders.

Announcing the appointment, tZERO CEO Saum Noursalehi stated: “Having labored with Elliot Grossman at Dinosaur Financial Group, I’m assured that he’s the proper particular person to construct on our momentum. Elliot’s 15 years of expertise in capital markets can be invaluable in constructing the following era retail broker-dealer. His abilities together with our experience in automation and constructing world-class consumer experiences will revolutionize how traders commerce belongings.”

Elliot Grossman added: “Leading tZERO’s new broker-dealer affiliate is an honor and I’m desirous to be becoming a member of this effort at such an thrilling time. I stay up for persevering with to construct on the successes that the tZERO group has achieved as we proceed to create a really distinctive providing for our purchasers.”

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David is the founder of DebtDefined.com. The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

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