Overstock.com’s tZERO subsidiary has been hired by private equity firm GSR Capital to develop a token for trading cobalt

Overstock.com’s subsidiary tZERO has been hired to develop a token for GSR Capital, which will be used for trading cobalt. Overstock has estimated that around $200M of the metal could be tokenized, which is used to create electric vehicle batteries.

The deal had been set to be completed on the 15th of December, but GSR had asked for an extension to “allow a key partner in the cobalt initiative from outside China to participate in the deal”, according to CEO Patrick Byrne, who nevertheless called it “one of the most exciting initiatives on the blockchain today”.

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Source: https://www.cryptodigest.com/featured/tzero-to-develop-token-for-gsr-capital/