tZero mobile app – have you ever imagined a crypto wallet that is immune to hacking? Well, I’m sure we all have; but now we don’t have to imagine anymore, because Overstock’s crypto subsidiary is bringing it to life. tZero announced on the 27th of June, in a tweet; that they launched a digital wallet as well as a crypto exchange app. Let’s find out more about this new tZero crypto mobile app. have a look at our crypto wallet article here.
tZero is known as a distributed ledger platform as well as cryptocurrency. tZero is a subsidiary of Overstock.com and is taking relevant steps towards becoming the first ever SEC regulated Security token Trading exchange and issuance in the US. The company is seen as an alternative trading system (ATS) to the stock market that already exists.
tZero mobile app Features
First and foremost, the most interesting feature this mobile app has is that of being hack-resistant. The CEO of tZero Saum Noursalehi said that the company considers their new mobile cryptocurrency app to be a solution for storing and trading cryptocurrencies hack-free. The mobile app is available for IOS users only, but it will soon cater to Android users as well.
Seeing as their goal and focus is in safety as well as compliance, the app makes use of biometric authentication to strengthen security against hacks and the loss of passwords. Biometric authentication has to with the integration of human characteristics to identify and verify an individual. One of the essential aspects of the Tzero crypto wallet is the ‘Private Key Recovery System’ that gives a user the chance to get their funds back if they lose their mobile device or private keys.
The tZero crypto mobile app will start by supporting only two major cryptocurrencies like Ethereum and Bitcoin; however, they aim to be the go-to trading platform for all digital assets, including real estate, private businesses and even art.
Timing of the launch
The launch of the tZero crypto mobile app came at a very convenient time for the company. In May tZero had just collaborated with BOX Digital Markets Group; for the launch of a security token exchange, the first in the world. The collaboration saw them filing with the SEC to proceed with advancements of the Boston Security Token Exchange (BSTX). The Chairman of BSTX Susan Chamberlin even said in a press release;
“There is no doubt that security tokens are the future of capital markets; and we are excited to be working to continue to advance this evolution of the industry ;through creation and trading of blockchain-based tokenized securities,”
Moreover, tZero managed to raise US$5 million in that same month of May from GSR Capital; the private equity firm based in Hong Kong. However, this was just 2 per cent of the funding that the firm promised to provide in August. Non the less after the announcement the shares of Overstock Shot up about 20 per cent.
tZero is a front-runner in Capital Market blockchain innovations globally; therefore, any investors that are interested in taking part in the global cryptocurrency market can count on the new tZero crypto mobile app; to buy and sell as well as store their digital assets safely on their mobile phones. This new option is more efficient than using third-party exchanges that are even more vulnerable to hacks or any malicious acts of that sort.