tZero, a company focused on digital asset securities, has become the second special purpose broker-dealer (SPBD) approved by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) to operate in the digital asset space.

The approval allows tZero to provide custody, clearance, and settlement of digital asset securities on behalf of retail and institutional clients, making it a "one-stop shop" for digital asset security issuance and secondary trading.

tZero has a long-standing position that many digital assets in the market constitute securities under existing legal frameworks, a claim that is widely disputed in the crypto world. However, the company will treat digital assets as securities when it provides custody of them.

The new service will be available early in 2025, with the full digitization of tZero's Series-A preferred equity security (TZROP) as its first product.

This development follows the steps of Prometheum, another FINRA-approved SPBD that now treats four cryptocurrencies as securities, allowing tZero to set an example in the crypto industry.

Source: https://cointelegraph.com/news/sec-approves-tzero-digital-asset-broker-dealer-2025

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