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Keystone Capital Corporation partners with t0 in first public issuance of blockchain equities


t0 announced that Keystone Capital Corporation, a securities broker dealer located in San Diego, California, has selected t0’s blockchain-based trading technology, as part of its brokerage service’s support of a blockchain preferred share offering from Overstock.com, Inc.






final_t0_grn“It’s no secret that Overstock’s own financial technology subsidiary, t0, has been working on a blockchain version of Wall Street, and that Overstock desires to demonstrate its system by issuing a security of its own on the technology it is creating. Keystone Capital has aligned with us in this historic effort,” said Overstock.com CEO Patrick M. Byrne. Overstock.com (NASDAQ: OSTK) is the parent company of t0.

Under the license agreement with t0, Keystone Capital will provide brokerage services for market participants seeking to trade blockchain securities. t0 technology will allow investors to create digital trading accounts with Keystone upon commencement of Overstock’s issuance subscription period, to be announced.

“Keystone Capital is a visionary company that grasped immediately the importance of the revolutionary technology we’ve built,” said Jonathan Johnson, Chairman of Overstock.com’s board of directors and president of the company’s Medici cryptotechnology subsidiary. “It’s been a pleasure working with such a forward-leaning firm.”

For its part, Keystone Capital found the opportunity to participate in the world’s first blockchain-based public equities issuance to be an important step.

“We are very excited to be a part of this cutting edge opportunity. Everyone speaks about using blockchain technology, but very few are actually making it happen. We are also thoroughly enjoying working with such a talented group of technologists on the t0 team,” said Steven Capozza of Keystone Capital.

keystone-logoMedici, Inc. is Overstock.com’s majority owned financial technology subsidiary, focusing on applying blockchain technology to solving important financial transaction problems, particularly in the area of securities settlement. Overstock.com made financial history in June of 2015 as the first public company to issue a private security using blockchain technology. In December of 2015, the SEC declared parent company Overstock.com’s S-3 filing effective, giving Overstock.com the ability to issue blockchain shares in a public offering.

The securities described above will be offered by Overstock pursuant to a shelf registration statement on Form S-3, as amended, previously filed with and declared effective by the United States Securities and Exchange Commission (SEC). A prospectus supplement related to the offering will be filed with the SEC. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About t0.com
t0 (pronounced tee-zero) is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception in October of 2014, t0.com has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. More information is available at t0.com.

About Overstock.com
Overstock.com, Inc. (NASDAQ:OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, rugs, bedding, electronics, clothing, and jewelry. Worldstock.com is dedicated to selling artisan-crafted products from around the world whereas Main Street Revolution supports small-scale entrepreneurs in the U.S. by providing them a national customer base. Overstock has additional community-focused initiatives such as a Farmers Market and pet adoptions. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock sells internationally under the name O.co. Overstock (overstock.com and o.co) regularly posts information about the company and other related matters under Investor Relations on its website.

About Keystone Capital Corporation
Keystone Capital Corporation is an independent broker-dealer located in San Diego, California. For more than thirty years Keystone has been home to top industry professionals. Keystone conducts business by combining old-school business philosophies with superior technology and resources. Keystone (www.kccbd.com) is a Member of FINRA, SIPC and Registered with The MSRB. Check the background of this firm at finra.org/brokercheck.

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Thursday, September 22nd 2016
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