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Belonging to the group Overstock.com tZERO was hired by GSR Capital to launch the tokenization process for cobalt. It was assumed that the tokenisation of the cobalt metal group will amount to 200 million USD.
Overstock as one of the first companies introduced a cryptocurrency Bitcoin as a form of payment, thus proving its openness to digital solutions. Now the time has come for the next step - Security Token Offering (HUNDRED). The company was subordinate to the company tZERO announced that she had started work on security tokensto improve cobalt rotation.
Cobalt tokenization
tokenization cobalt physical assets is an area that, according to many experts, requires additional support in the form of STO. Digital security is seen as a huge potential that can bring unprecedented market liquidity. As representatives of Overstock announced, the actual value stencilled cobalt units can reach up to 200 million USD. This metal is widely used in the production of electric vehicle batteries, and its value will be the greater, the greater its utility.
Both tZERO and the investor of the company - GSR Capitalare of the opinion that the new one token not only will it comply with regulatory requirements, but will also significantly contribute to improving the processes of identification, purchase and then tracking of cobalt supplies. GSR Management argues that both companies are doing something more than just tokenization of cobalt, thus envisioning further development of cooperation. This partnership is aimed at developing the Asian ecosystem of digital trade contracts, with particular emphasis on rare metals such as cobalt.
