💰Overstock’s tZERO to develop a cobalt-backed token for Hong Kong investors
Overstock subsidiary tZERO has been hired by Hong Kong based private equity firm GSR Capital to develop a token tied to the trading of cobalt. According to an announcement from the company, the engagement could lead to the tokenization of up to $200 million worth of this rare metal. While the news was positive for Overstock it has delayed GSR's previously announced investment into the company in order to facilitate participation from a partner in the new cobalt project.
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