tZERO Enables Users to Fund Brokerage Accounts With BTC and ETH
- tZERO Markets customers will be able to sell their BTC and ETH through third-party custodial accounts and use the proceeds to fund their brokerage accounts.
- The feature will become available on 5 October for all users.
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tZERO announced its private digital security trading platform will now enable customers to fund their brokerage accounts with Bitcoin (BTC) and Ethereum (ETH). The feature will become available on 5 October for all users, expanding access to cryptocurrencies beyond the originally supported USD Coin (USDC).
According to the company’s press release, users will be able to sell their BTC and ETH through third-party custodial accounts and cryptocurrency wallets and transfer the fiat USD proceeds to their tZERO Markets brokerage accounts.
The feature is part of tZERO’s upcoming merge of the private digital security and cryptocurrency user experience. The merge is set to be completed in Q4 2021 and provide users with a unified, cross-asset user experience easily accessible through the platform.
“tZERO Markets customers will be able to use our digital asset to fiat account funding feature with the two largest cryptocurrencies by market cap—Bitcoin and Ethereum. This is a great accomplishment as we look to continue to improve our customer experience, which includes continuing to expand this functionality to a variety of cryptocurrencies so users are able to fund their accounts with their currency preference,” said Alan Konevsky, the Chief Legal Officer and Interim CEO of tZERO.
- Vice President of Global Business at Huobi Group announced the platform at the Davos 2020 forum.
- Huobi Brokerage provides high-quality liquidity pools, a regulated fiat channel, and supports trades across major cryptocurrencies.
Huobi Group vice president of global business Ciara Sun and executive advisors on fragile states at World Vision Jonathan Papoulidis. Jonathan Papoulidis
- tZERO will tokenize the assets, while the Tezos protocol will serve as the base infrastructure to “deploy, transfer and store the digital assets and smart contracts”.
- The first security tokens will represent £20 million in equity of a waterfront development.