Overstock, the US-based retail giant, is expanding its blockchain wing tZero with new hires in Ireland.
It has been reported by local tech news agency Silicon Republic that the company is seeking to hire software, developers, and engineers to work on its blockchain and security token subsidiary tZero.
However, the new hires for tZero are part of a new team at Overstock’s headquarters in Sligo in western Ireland, as the online retail company already employs 90 people working in AI, research and development, and machine learning.
John Forde, the Senior Development Manager at Overstock, said that tZero operates in a “fast-growing digital securities market.”
“It is an exciting time for Overstock Ireland to be working with tZero to expand into this area. It provides diversity in terms of both technology and business domain and enables us to provide exciting and challenging roles here in the northwest.”
Likewise, according to Overstock’s Q3 2020 earnings report, tZero increased its revenue by 97% year-on-year to $11.1 million in the first quarter of 2020.
tZero was still unprofitable by losing $12.3 million in Q3. Overstock was one of the first major mainstream companies to announce Bitcoin (BTC) support.
Thus, after launching the tZero security token exchange in late 2016, Overstock also completed a $134 million initial coin offering for tZero in August 2018.
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.
We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.