Online retail large Overstock filed an S-Three type for the registration of its blockchain-based digital most well-liked inventory with the United States Securities and Exchange Commission (SEC).
The information builds on earlier stories that the agency was seeking to liberalize its deliberate digital dividend shares buying and selling.
Investment information outlet MarketWatch reported on Sept. 24 that Jonathan Johnson, Overstock’s newly appointed CEO, introduced the submitting in a press release earlier at this time. He stated:
“This filing represents an initial step in the company’s registration of the OSTKO dividend, and the company is engaged in active discussions with regulatory authorities to obtain approval of the registration.”
Digital shares on the blockchain
Overstock shareholders will obtain one unit of the Series A-1 most well-liked inventory for each 10 frequent shares of the agency.
But to pay money for the asset, shareholders will first have to arrange an account with Dinosaur Financial Group to entry the PRO Securities buying and selling system developed by Overstock’s blockchain subsidiary tZERO. Johnson famous:
“This dividend will be a great introduction for many to how blockchain technology can enhance the investor experience.”