Until today, all of the efforts of the tZero platform were focused on security tokens, which should not be surprising since the tZero is structured to host numerous security tokens at once in a dedicated ecosystem.
Early this morning, however, CoinDesk reported that late yesterday, they had already received information that tZero plans to launch a dedicated app for Bitcoin and possibly Ether trading. Given that the news came directly from the project’s CEO, it would seem to be extremely credible.
Still, with this in mind, it is easy to wonder how a new Bitcoin trading app can possibly compete in a niche that is already saturated with offerings from giants like Abra, Coinbase, and Square, among many others.
What seems to be the most reasonable answer to this is that just like Sirin Labs aims to offer blockchain-based phones with the highest level of security on the market, tZero plans to offer a trading app with certain features that others do not have.
According to CoinDesk, this includes the ability for users to use a biometric method of logging in, as well as own their private keys and trade stocks and security tokens within the same app. Once this is known, it appears that the news of this being a new app dedicated to Bitcoin trading is no longer valid.
Even so, this news then shifts to an even higher level of importance in that it means tZero is looking to basically become the most powerful exchange in the industry, by integration. If they can successfully obtain their broker-dealer license, Coinbase had better make sure that they can keep up their advantage as a result. Bad press will likely hurt even more when a competitor already has a more valuable platform, judging by its’ trading features.
Everyone’s trying to make crypto trading and really all trading as simple as possible. The question is: who will get there first in terms of long-term user growth? Since June marks the reported launch of the new and improved tZero app, expect things to pick up from there.
By: BGN Editorial Staff