Overstock.com (NASDAQ:OSTK)'s investment wing, Medici Ventures, has successfully purchased digital tokens representing 3.6 million shares from Chainstone Labs, a digital securities company.
The shares represents Medicis's 29.6 percent stake in the startup, worth $3.6 million. They mark Chainstone's first step in venturing into the security token market, which itself is in the inception phase. Medici is gearing up to launch a security token marketplace in January with its own tZERO token as a primary traded asset.
Chainstone is led by Bruce Fenton, CEO at the Atlantic Financial Blockchain Labs, founder of The Satoshi Roundtable conference and a board member of Medici.