Overstock.com owned blockchain company tZero has announced that Elliot Grossman will be CEO of its broker-dealer arm, which is all set to launch this year. The to-be-formed company’s leader has been an important part of the team behind Dinosaur Financial Group, headed by the father-son duo of Glenn and Elliot Grossman.
Dinosaur has been a brokerage partner of tZero for a long time. Being in a partnership with PRO Securities, a tZero subsidiary, the investment bank offers brokerage accounts to investors willing to invest in tZero’s digital tokens. Grossman has been working in the electronic markets globally for about two decades. Prior to being tapped by tZero, Grossman Jr had been serving as the Managing Director at the New York-based equity trading, brokerage, and Investment bank.
Post joining, Grossman will lead the management of the tZero’s much talked about retail brokerage services. His new role at the highly anticipated brokerage firm will include sales trading, electronic execution, and portfolio execution. Grossman will look to capitalize on the regulatory approval tZero received to operate as an Alternative Trading System (ATS). The approval was procured to create an alternate path for companies to tokenize equity and issue them on a blockchain without breaking any regulations.
tZero’s new subsidiary will also focus on providing secondary market liquidity for ICO tokens which are issued as securities. The global leader in blockchain innovation for the financial market will be launching the much-awaited retail broker-dealer platform with the coming few months. The platform will serve the company’s goal of expanding its services current accredited investors to retail traders.
Announcing Grossman’s appointment, Saum Noursalehi, CEO of tZero stated,
“Having worked with Elliot Grossman at Dinosaur Financial Group, I am confident that he is the right person to build on our momentum. Elliot’s 15 years of experience in capital markets will be invaluable in building the next generation retail broker-dealer. His skills in combination with our expertise in automation and building world-class user experiences will revolutionize how investors trade assets.”
Commenting on his appointment as the new retail trading head, Grossman stated,
“Leading tZero’s new broker-dealer affiliate is an honor, and I’m eager to be joining this effort at such an exciting time. I look forward to continuing to build on the successes that the tZero team has achieved as we continue to create a truly unique offering for our clients.”
The company aims to integrate client-first service with its blockchain platform, along by creating innovative products and sophisticated financial strategies. tZero is expected to be the leader of next-gen retail brokerage firms. Apart from serving as the Managing Director at the investment bank, Grossman also fulfilled the role of Senior Vice President at DCM Advisors, an SEC-registered firm and a Dinosaur subsidiary.
Spending 15 years at Dinosaur Financial Services, Grossman developed the investment bank’s equity business and was also headed the company’s electronic trading systems and strategies. During his tenure, Grossman also pioneered the development of Dinosaur’s US private client base, and also assisted the company to successfully launch its international equity trading business.
Cryptocurrency markets are undergoing a complete revamp globally, especially after governments worldwide decided to lay down stringent regulatory framework for digital currency companies. The growing popularity and adoption of digital tokens across the globe has compelled big companies to notice the space, and pour in investments for development.
To capitalize on growing markets companies are investing huge capital for bringing in world-class management and skill force. Companies like IBM, Facebook, VISA, and many others have been regularly posting requirements for blockchain and cryptocurrency experts.