Overstock.com subsidiary tZERO, through its tZERO Crypto Unit, has launched a cryptocurrency wallet and exchange services app to enable users to buy, sell, and hold digital assets. The subsidiary concern announced the development in a press release issued on June 27, 2019.
tZero Crypto Unit Launches Crypto App
Blockchain innovation firm tZERO’s crypto-focused division – tZERO Crypto Unit – has released a mobile app for users to help them be a part of the global cryptocurrency economy. Dubbed “tZERO Crypto App,” the mobile application allows users to store their crypto assets in a secure digital wallet on their smartphone.
According to the press release, the initial version of the app will support the current top two cryptocurrencies by market cap – bitcoin (BTC) and ether (ETH). The crypto app is available on the iOS platform and is expected to be launched on Android soon.
Robust Security Features
The tZERO Crypto App takes security and compliance in the highest regard and thus offers users the option to safeguard their assets against hacks and lost passwords through a biometric verification system. Most notably, the app introduces tZERO’s revolutionary Private Key Recovery System, which allows users to restore their funds even if they lose their private keys or smartphone.
Substantiating on the Private Key Recover System, Patrick M. Bryne, Overstock founder, and CEO said:
“With tZERO’s Private Key Recovery System, your digital coins are truly held by you, in your wallet, rather than on an exchange in a pot with other fungible tokens. Not only is this more secure (if your coins are held in your wallet and not on an exchange, people cannot steal your tokens by hacking an exchange), but in addition, it is more true to the cypherpunk ethos of decentralization through cryptography. Yet with tZERO’s Private Key Recovery System, you do not face a risk in losing your passwords or devices.”
Similarly, tZERO CEO, Saum Noursalehi, shared his excitement about the development, dubbing the launch of the firm’s crypto app a “significant milestone” in tZERO’s long-term goal to provide crypto traders an intuitive trading experience.
BTCManager reported on January 25, 2019, how Tzero had announced live trading of its security token.