- tZERO’s CEO Noursalehi recaps the financial year 2019.
- Noursalehi discloses the plans for 2020.
- Three new security tokens are about to be released on the digital platform in 2020.
January 30, 2020 – tZERO, the global leader in the Blockchain technology innovations for the capital market, sent a letter to all its investors today. CEO of tZERO, Saum Noursalehi, summarized the business performance over the past year 2019 and with that, the plans of 2020.
tZERO Set to Release Three Security Tokens
The letter released focused on various elements including the progress of 2019, the activities that were done in 2019, tZERO’s upcoming broker-dealer plan, planning of new digital security tokens, and how tZERO will raise new funds in 2020.
Moreover, the CEO also stated that tZERO has raised a fund of $5 million from GSR Capital in May 2019, citing the target to raise further $400 million. tZERO is now missing the capital funding by 98.7% with this lone deal done in 2019.
According to Noursalehi, they are committed to continuing their business growth and are positive in regards to approaching the milestones with the business model they are up with.
Additionally, they might approach external sources for capital investment in late 2020 or at the start of 2021. This plan will stay active if it will enhance their business to reach the business goals and the stakeholders are benefited.
Reportedly, tZERO was aiming to launch 5 digital security tokens in 2019 but was able to launch only 2 of them. However, legal matters and regulatory concerns reportedly lead to a delay in the process. Consequently, the firm intends to launch the remaining 3 digital security tokens in 2020, according to the CEO of tZERO, Saum Noursalehi.
Following the letter released to all the investors, tZERO was focussing on a few other important aspects w.r.t. Company’s vision in 2019. In includes, engaging human and financial capital in acquiring the regulatory approvals (As per him, it is still on-going), developing a robust trading/digital security platform for a secures and easy trade, and building a focused leadership team. He happily cited that tZERO now has a leadership team that can enhance the company’s business inlining with the company’s vision.
With this, tZERO is about to launch the third digital security token “in the coming weeks”. Moreover, tZERO has signed agreements with five new broker-dealers among the 100s of broker-dealers they discussed in 2019. Also, they are in discussion with several other broker-dealers, stated Noursalehi.