tZERO Markets Customers Will Be Able to Fund Their Accounts Following a BTC, ETH, or USDC to Fiat Conversion
tZERO, a leader in blockchain innovation and liquidity for digital assets, announced that its private digital security trading platform will now enable customers to fund their brokerage accounts using bitcoin (BTC) and ethereum (ETH) starting on October 5, 2021, in addition to USD Coin (USDC), which is already supported. Through this technology enhancement, users will be able to sell their BTC and/or ETC through their third-party custodial accounts and cryptocurrency wallets, and efficiently transfer the fiat USD proceeds to their tZERO Markets brokerage account. This feature comes ahead of tZERO’s expected merge of the private digital security and cryptocurrency user experience to create one, UX-first cross-asset experience in Q4 2021.
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tZERO Interim CEO and Chief Legal Officer Alan Konevsky stated, “tZERO Markets customers will be able to use our digital asset to fiat account funding feature with the two largest cryptocurrencies by market cap, bitcoin and ethereum. This is a great accomplishment as we look to continue to improve our customer experience, which includes continuing to expand this functionality to a variety of cryptocurrencies so users are able to fund their accounts with their currency preference.”
All tZERO Markets customers will have access to this enhanced functionality. Through the tZERO Markets user interface, a user will have access to a third-party application of a custodial bank. In the custodial bank’s application and subject to any third-party fees of the custodian, the user will be able to open a custodial bank account, deposit BTC and/or ETH in their custodial account, convert their crypto assets to fiat, and then deposit the fiat into their brokerage account, which can be used for securities trading on the tZERO ATS.
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