tZERO
tZERO is a U.S.-regulated blockchain infrastructure operator running SEC-registered broker-dealers, a FINRA-member ATS, and a transfer agent to provide end-to-end tokenization, secondary trading, custody, and settlement for private issuers, institutional investors, and broker-dealers.
- Company typePrivate
- Founded2014
- HeadquartersSalt Lake City, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What tZERO does
tZERO Group, Inc. is a U.S.-based financial technology and regulated broker-dealer infrastructure company that provides end-to-end blockchain-powered rails for tokenized real-world assets. Founded in 2014 and headquartered in Jersey City with offices in Salt Lake City and New York, the company operates an SEC- and FINRA-regulated Alternative Trading System (tZERO Securities ATS), two SEC-registered broker-dealers (tZERO Securities, LLC and tZERO Digital Asset Securities, LLC), an SEC-registered transfer agent (tZERO Transfer Services, LLC), and an accredited-investor verification subsidiary (VerifyInvestor.com). Its platform supports multi-chain tokenization across Ethereum, Tezos, Avalanche, Polymesh, Stellar, XDC, Algorand, and Aptos, combined with REST and FIX 4.2/4.4 API access, Fireblocks-secured custody, on-chain settlement, and self-enforcing smart-contract compliance. It is one of only two Special Purpose Broker-Dealers in the U.S. licensed to custody tokenized securities with its own wallet and keys.
The company sells to three primary customer segments: private issuers seeking to digitize cap tables and access secondary liquidity, institutional and accredited investors accessing tokenized securities through a regulated venue, and broker-dealers/financial institutions consuming white-label tokenization, ATS, custody, correspondent-clearing, and transfer-agent services. Revenue is generated across multiple streams: ATS transaction and brokerage fees, tokenization infrastructure services, stablecoin/crypto funding (via ZeroHash), correspondent clearing, VerifyInvestor per-verification fees, SEC-registered transfer-agent fees, IP licensing from its 100+ patent portfolio, and the planned tZERO Chain utility-token economics. Distribution combines direct enterprise sales with a channel partner network spanning Archax (UK/EU), PandoAlts (allocators), Uphold (consumer), Aptos Foundation and Polymath (infrastructure), and the Lynq real-time settlement network co-founded with Arca and Tassat. The company is backed by Intercontinental Exchange (NYSE parent) as a significant minority stakeholder, with Beyond, Inc. as its largest shareholder, and has announced plans for a 2026 IPO.
tZERO firmographics
Firmographics- Name
- tZERO
- Legal name
- tZERO Group, Inc.
- Website
- https://tzero.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- tZERO is a U.S.-regulated blockchain infrastructure operator running SEC-registered broker-dealers, a FINRA-member ATS, and a transfer agent to provide end-to-end tokenization, secondary trading, custody, and settlement for private issuers, institutional investors, and broker-dealers.
- Ownership category
- akta.pro rank
tZERO industry classification
Industry- Product category
- Digital Asset Securities Infrastructure
- NAICS
- Securities and Commodity Exchanges (52321), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Commodity Contracts Intermediation (52316)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management) (FSAPAEAJ)
- akta.pro secondary industries
- Tokenized Collateral & On-Chain Credit Infrastructure (Collateral Mgmt, Liquidations) (FSAGAMAK), Third-Party/Vendor Risk & Due Diligence (TPRM, continuous monitoring) (FSAGAFAJ)
Keywords
Where tZERO is headquartered
LocationHeadquarters
- HQ city
- Salt Lake City
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
tZERO business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Broker-Dealer and ATS Fees: tZERO operates SEC-registered broker-dealers (tZERO Securities and tZERO Digital Asset Securities) and an Alternative Trading System. Revenue is generated through transaction fees, brokerage commissions, and ATS trading fees for tokenized securities secondary trading.
- Tokenization Infrastructure Services: tZERO provides end-to-end tokenization infrastructure for issuers bringing assets on-chain, including issuance, compliance workflows, custody, and trading. This encompasses white-label and 'tZERO under the hood' connections to financial institutions.
- Crypto and Stablecoin Funding: Platform enables investors to fund brokerage accounts using stablecoins and cryptocurrencies, powered by ZeroHash, generating fee income on crypto-to-fiat conversions and transaction processing.
- Correspondent Clearing Services: tZERO offers correspondent clearing services to other broker-dealers, expanding its institutional infrastructure footprint in both crypto asset and traditional securities.
- VerifyInvestor.com (Accredited Investor Verification): Subsidiary providing accreditation and qualification verification services for private market investments. Revenue model based on per-verification fees.
- tZERO Transfer Services (SEC-Registered Transfer Agent): Real-time investor management and corporate actions services for tokenized securities issuers, including cap table management.
- IP Licensing: tZERO is pursuing monetization of its 100+/105 patents covering tokenized capital markets infrastructure, with enforcement actions against alleged infringers (e.g., Securitize) and technology licensing discussions.
- tZERO Chain and $TZERO Utility Token: tZERO is developing tZERO Chain, a purpose-built blockchain for compliant issuance, trading, and settlement of tokenized RWAs, with the $TZERO utility token serving as the network's core transaction and incentive layer. The network is expected to launch with up to $1 billion in tokenized assets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Institutional infrastructure pricing — regulated ATS, custody, and tokenization services |
Go-to-market motion3 records
Distribution channels8 records
Marketing channels8 records
tZERO product offering
Product offeringCore offering
tZERO is a blockchain-powered, SEC- and FINRA-regulated financial infrastructure company that provides end-to-end rails for tokenization, secondary trading, custody, and settlement of digital asset securities. Through its broker-dealer subsidiaries (tZERO Securities, LLC and tZERO Digital Asset Securities, LLC) and SEC-registered transfer agent, the company enables issuers to bring private securities, funds, and real-world assets on-chain and provides institutional and accredited investors with a regulated marketplace for secondary liquidity. It also operates multi-chain tokenization, an institutional API platform, and an AI agent tool (tZERO Halo).
Product overview
tZERO is a blockchain-powered, multi-asset financial infrastructure platform operating as a unified platform-plus-modules architecture. The core platform (tZERO Platform) provides end-to-end regulated infrastructure combining tokenization issuance, secondary trading via the tZERO Securities ATS, digital custody through tZERO Digital Asset Securities, and settlement—delivered through SEC- and FINRA-regulated broker-dealer entities. Key supporting modules include: tZERO Chain (a purpose-built blockchain with $TZERO utility token) for on-chain issuance and settlement; tZERO Halo (AI agent tool for automated digital asset transactions); tZERO Connect / tZERO API Platform for institutional programmatic access; VerifyInvestor.com for accredited investor verification and SEC-registered transfer agent services; and the Private Market Auction Facility for secondary liquidity. The platform supports diverse tokenized assets including equities, corporate debt, funds, real-world assets, and intellectual property through integrations with Aptos, Polymesh, Stellar, XDC, Algorand, and other blockchains, while cross-platform connectivity is enabled through partnerships with Archax, North Capital/Agora, PandoAlts, and others. tZERO also operates a validator node on Polymesh, participates in the Lynq settlement network, and is expanding into non-security crypto assets.
Differentiator
Problem solved
Functional benefit
Brands
- VerifyInvestor.com: Accredited investor verification platform providing compliance services for Reg D, Rule 506(c) verification, AML/KYC services, and qualified purchaser verification.
- tZERO Chain
- tZERO Halo
- tZERO Connect
- tZERO ATS
- TZROP
Products and services
- tZERO Platform End-to-end blockchain-powered platform providing the regulated rails that power tokenized asset issuance, secondary trading, custody, and settlement under a SEC- and FINRA-regulated framework.
- tZERO Securities ATS SEC- and FINRA-regulated Alternative Trading System providing secondary market trading for tokenized securities to accredited investors and qualified purchasers, supporting Regulation CF, Reg D, and Reg A+ offerings.
- tZERO Digital Asset Securities (Custody) SEC-registered digital asset custodian and broker-dealer providing secure wallet infrastructure for tokenized securities custody, including self-hosted wallet support and on-chain settlement via Fireblocks integration.
- tZERO Chain Next-generation purpose-built blockchain for compliant issuance, trading, and settlement of tokenized real-world assets in the US and abroad, with the $TZERO utility token as the network's core transaction and incentive layer. Expected to launch with up to $1 billion in tokenized assets.
- tZERO Halo Beta tool enabling AI agents to conduct digital asset transactions securely under user-defined parameters, providing a regulated compliance layer for AI-driven interactions with tokenized assets.
- tZERO Connect / tZERO API Platform Institutional API platform providing programmatic access to tZERO's trading platform via REST and FIX 4.2/4.4 protocols, enabling order management, market data streaming, and account integration for broker-dealers, custodians, and fintech platforms.
- VerifyInvestor.com Accredited investor verification platform providing real-time investor management, corporate actions, KYC/AML services, and qualification verification for private market investments under Reg D, Reg A+, and Reg CF.
- tZERO Transfer Services SEC-registered transfer agent providing cap table management, compliance workflows, and investor record services for tokenized securities issuers.
- Private Market Auction Facility Service helping private companies manage cap tables and provide structured liquidity options for investors and employee shareholders through broker-dealer-led auction processes with full issuer control over participation and timing.
Quantifiable outcome
- tZERO is a leader among tokenized securities ATSs in the US by total trades
- +4 more outcomes
Companies that use tZERO
Customer profileNamed customers9 records
Segments5 records
Ideal customer profiles4 records
tZERO technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability4 records
Feature10 records
tZERO partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered core and minor.
- Aptos FoundationcoreIntegration of the Aptos Layer 1 blockchain as a preferred execution layer for tokenized assets on tZERO's platform. Crossing the $1.2 billion threshold in real-world assets, Aptos has positioned itself as a fast-growing chain for tokenized assets, trusted by Franklin Templeton and BlackRock. The integration enables issuers to launch eligible tokens on the Aptos blockchain while leveraging tZERO's regulated infrastructure.
- Web3 Secondary Market (Institutional Buyers and Sellers)coreLaunch of private marketplace for secondary trading of illiquid Web3 assets including locked tokens, SAFEs, SAFTs, and private equity in crypto-native companies. Designed for institutional buyers and sellers such as VC firms and digital asset funds. Operates under SEC- and FINRA-regulated broker-dealer oversight with both traditional OTC brokerage and blind auction execution pathways.
- /mkt (Blockchain Market, Inc.)coreStrategic partnership to launch an athlete tokenization platform enabling retail investors to purchase tokenized securities backed by professional athletes' future earnings under Regulation A+ (Tier 2). tZERO provides SEC and FINRA-regulated ATS, blockchain custody and settlement, broker-dealer services, and transfer agent services. /mkt's broker-dealer subsidiary Forwardslash Financial handles primary distribution.
- North CapitalcoreLaunch of Agora, a network connecting Alternative Trading Systems (ATSs) to improve liquidity in private and tokenized securities markets, developed in partnership between North Capital and tZERO. The platform addresses fragmented infrastructure and facilitates broader access, price discovery, and regulatory compliance.
- PandoAltscoreIntegration connecting tZERO's broker-dealers directly to the PandoAlts allocator network, enabling real-time indications of interest (IOIs) from institutional users while surfacing tZERO platform assets to allocators. Also expanded VerifyInvestor.com integration into the PandoAlts Market Checks platform as default accreditation verification provider.
- AGORACOMminorPartnership to create a regulated tokenization framework enabling small- and mid-cap public companies to tokenize real-world assets on-chain. AGORACOM RWA DBX handles issuer engagement, asset analysis, and investor communications while tZERO provides regulated infrastructure for digital securities issuance, trading, settlement, and on-chain custody.
- PolymathcoreStrategic partnership to jointly support issuers seeking to tokenize real-world assets on the Polymesh blockchain network. Combines Polymath's institutional-grade L1 blockchain with tZERO's regulated broker-dealer infrastructure, tokenization workflows, and SEC-regulated ATS. tZERO operates a validator node on Polymesh to support the network's governance and ecosystem development.
- UpholdminorUphold filed an application with FINRA to offer tokenized securities to US customers via its consumer app (planned for late 2026). tZERO provides trading, clearing, and custody infrastructure as one of only two Special Purpose Broker-Dealers in the U.S.
- ZeroHashcoreZeroHash powers tZERO's stablecoin and cryptocurrency funding capability, enabling investors to fund brokerage accounts using stablecoins and cryptocurrencies. This feature advances the roadmap toward a unified, multi-asset platform bridging traditional finance and digital assets.
- ArchaxcoreStrategic partnership to cross-list and distribute digital securities across US, UK, and European markets. tZERO invested in Archax as part of the collaboration. Enables issuers to list assets across multiple regulated venues, tapping broader international investor base. Archax's $GOVY tokenized US Treasury product to be distributed to US qualified purchasers via tZERO's SEC- and FINRA-regulated broker-dealer and custodial infrastructure.
- Alphaledger Technologies (Alphaledger)coreStrategic relationship to jointly develop and distribute tokenized securities including equities, a Government Money Market Fund, and yield products on tZERO's regulated broker-dealer platform. Includes joint advocacy efforts and exploration of integration opportunities with various blockchain ecosystems to accelerate public market adoption of blockchain technology.
- Lynq (Arca Labs / Tassat)coreLynq is a real-time, yield-bearing settlement network co-created by Arca (issuing TFND tokenized MMF on Avalanche), tZERO (providing broker-dealer and custodial functions), and Tassat (developed payment network and predecessor Signet). Lynq addresses the gap created when digital asset firms lost two commonly used 24/7 payment networks (Signet and SEN) during the 2023 banking crisis. Assets on Lynq surpassed $89 million with 30+ institutional members.
- DigiXminorStrategic collaboration on tokenized funds and other assets announced alongside tZERO and other ecosystem partners.
- TassatcoreTassat developed the Lynq payment network and its predecessor Signet. Tassat's Yield-in-Transit technology enables interest distributions on the Lynq platform, which have exceeded $165,985. tZERO provides broker-dealer and custodial functions for the Lynq network.
- Arca LabscoreArca issues the TFND tokenized money market fund on Avalanche, used as the payment instrument within the Lynq settlement network. Co-founded Lynq with tZERO and Tassat to address 24/7 payment network gaps in digital asset markets.
- Aspen Digital Inc.minorPartnership to enable the trading of the St. Regis Aspen Digital Security on tZERO's platform, expanding access to luxury real estate-backed digital securities.
- FireblockscoreFireblocks technology supports tZERO's digital security custody business, providing institutional-grade digital asset protection standards, wallet infrastructure, and key management. Fireblocks enables tZERO to offer both broker-dealer custody and self-custody options.
- ComputershareminorListed as an ecosystem partner providing investor management and corporate actions services, complementing tZERO's transfer agent capabilities.
Scale indicators11 records
Recent moves6 records
Expansion highlights7 records
tZERO competitors and assessment
Company assessmentDirect peers
- Vertalo: SEC-registered transfer agent providing cap table management and digital securities issuance infrastructure. Direct competitor in the issuer onboarding and transfer agent layer of the tokenized securities stack.
- Archax: UK and EU-regulated digital asset exchange and broker. Direct competitor in regulated tokenized securities trading, while also a strategic partner for cross-listing tokenized assets like $GOVY across US, UK, and European markets.
- Polymath: Institutional-grade Layer 1 blockchain (Polymesh) purpose-built for regulated security tokens. Both partner and competitor in the regulated tokenization infrastructure stack, with tZERO operating a validator node on Polymesh.
- Securitize: A leading tokenization platform that issues, manages, and trades digital asset securities. Direct competitor across issuance, compliance, and secondary trading for tokenized securities, currently engaged in active patent litigation with tZERO.
- DigiShares: White-label tokenization platform for issuing and managing security tokens. Direct competitor in providing tokenization-as-a-service to issuers and platforms, with overlapping Aptos and multi-chain support.
Emerging players
- Maple Finance: On-chain credit infrastructure platform for institutional lending. Comparable in providing tokenized on-chain credit infrastructure, though focused on lending markets rather than full security token issuance and trading.
- Ondo Finance: Tokenized US Treasuries and yield-bearing products platform. Comparable in tokenizing traditional fixed income assets on-chain, though focused on treasury products rather than full-spectrum security token infrastructure.
Broad incumbents
- Digital Asset Holdings: Enterprise blockchain infrastructure company offering Canton Network for institutional tokenization and smart contract execution. Comparable in targeting regulated institutional clients with privacy-preserving distributed ledger infrastructure.
- BlackRock (BUIDL): Largest asset manager globally with the BUIDL tokenized US Treasury fund on Ethereum. Comparable in tokenizing traditional financial assets with regulated infrastructure, with massive distribution advantages but limited specialization in security token ATS.
- WisdomTree: Traditional asset manager that has launched tokenized funds and digital asset products. Comparable as a regulated incumbent expanding into tokenized securities, with broader portfolio but less specialized infrastructure.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
tZERO social profiles
Digital presencetZERO compliance and trust
Trust signalCompliance8 records
tZERO financial estimates
Financial estimateRevenue estimate
Valuation estimate
tZERO leadership team
Management profileNumber of profiles
Profiles14 records
tZERO subsidiaries and ownership
Company hierarchySubsidiaries7 records
tZERO funding detail
Funding detailFunding overview
Funding rounds9 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
tZERO M&A and investment
M&A and investmentM&A1 record
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about tZERO
What does tZERO do?
tZERO is a blockchain-powered, SEC- and FINRA-regulated financial infrastructure company that provides end-to-end rails for tokenization, secondary trading, custody, and settlement of digital asset securities. Through its broker-dealer subsidiaries (tZERO Securities, LLC and tZERO Digital Asset Securities, LLC) and SEC-registered transfer agent, the company enables issuers to bring private securities, funds, and real-world assets on-chain and provides institutional and accredited investors with a regulated marketplace for secondary liquidity. It also operates multi-chain tokenization, an institutional API platform, and an AI agent tool (tZERO Halo).
Is tZERO a public or private company?
tZERO is a private company. It is classified as venture growth investor backed and is currently operating.
When was tZERO founded?
tZERO was founded in 2014. It employs 51 to 100 people.
Where is tZERO based?
tZERO is headquartered in Salt Lake City, United States, in the North America region.
How does tZERO make money?
Eight revenue lines are on record. Broker-Dealer and ATS Fees are the primary driver. The others are tokenization Infrastructure Services, crypto and Stablecoin Funding, correspondent Clearing Services, verifyInvestor.com (Accredited Investor Verification), tZERO Transfer Services (SEC-Registered Transfer Agent), IP Licensing and tZERO Chain and $TZERO Utility Token.
Who are tZERO's main competitors?
Direct peers on record are Vertalo, Archax, Polymath, Securitize and DigiShares. Emerging players are Maple Finance and Ondo Finance. Broad incumbents are Digital Asset Holdings, BlackRock (BUIDL) and WisdomTree.
Does tZERO have an API?
Yes. tZERO provides a public REST/JSON API for account management, order entry, and market data queries, plus a FIX 4.2/4.4 protocol API for low-latency order entry, drop-copy execution reports, and real-time market data. Authentication requires an API key header (x-apikey) and a Bearer token obtained from POST /auth/v1/api/token. The token is valid for 1 hour. The FIX API supports Order Entry (New Order Single, Order Cancel Request, Order Cancel/Replace Request), Drop Copy (Order Acknowledged, Canceled, Rejected, Executed, Bust/Corrected), and Market Data (Market Data Request/Snapshot/Incremental Refresh, Trading Session Status, Security Status). An IOI Market Data Specification for Indication of Interest is also available. The base URL is https://gateway-web-api.tzero.com/app. Developer documentation is at apidocs.tzero.com/docs.
What industry is tZERO in?
tZERO's product category is Digital Asset Securities Infrastructure. Its primary akta.pro industry code is FSAPAEAJ, Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management), with a secondary code of FSAGAMAK, Tokenized Collateral & On-Chain Credit Infrastructure (Collateral Mgmt, Liquidations). Its NAICS code is 52321 and its SIC code is 6200.