The security token exchange raises $134m from its security token offering, missing its original goal of $250m. In a separate announcement, Hong Kong based GSR Capital committed to invest up to $400m in both tZero and Overstock.
CEO Patrick Byrne said that the funding would help support tZero efforts, particularly when accounting for the amount kicked in by GSR. "When GSR completes its planned investments, we should have over half-a-billion dollars," Byrne wrote in a statement Thursday. "We believe this will provide ample capitalization with which to build a company that can upend global capital markets."