NYSE Parent To Invest In Blockchain Trading Platform tZero

Intercontinental Exchange (ICE), the New York Stock Exchange's parent company, announced on Tuesday a strategic investment in the blockchain-based trading platform tZero.

ICE said it appointed Chief Strategy Officer David Goone to be the new Chief Executive Officer of tZERO.

"David's leadership and his mastery of trading, data, and clearing technology will be a big asset as tZERO begins its next chapter leading the growth and adoption of next-generation market infrastructure," said Jeff Sprecher, Founder and CEO of ICE.

tZERO, a subsidiary of Overstock.com, is an alternative trading system and broker-dealer designed to provide access to investors to private and public assets such as stocks, bonds, cryptocurrencies, and NFTs. It operates an SEC-regulated alternative trading system (ATS) and broker-dealer in the digital asset space and is a technology firm to democratize access to capital markets.

The statement noted that the investment would make ICE a minority shareholder in tZero without revealing the actual amount invested.

Industry observers expressed optimism the latest move would be another milestone in adopting blockchain-based trading solutions in the capital markets and a commitment from mainstream Wall Street firms in the space.

Last week, NYSE applied with the U.S. Patent and Trademark Office (USPTO) to provide an online marketplace for various digital goods, including non-fungible tokens( NFTs).

If NYSE sticks to the plans, it would be competing with popular NFT exchanges OpenSea and Rarible.