Overstock CEO says Coinbase, Robinhood are in its crosshairs as it builds out rival crypto trading venue

  • Date: 20-Apr-2021
  • Source: CNBC
  • Sector:Economy
  • Country:Middle East
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Overstock CEO says Coinbase, Robinhood are in its crosshairs as it builds out rival crypto trading venue

Watch your back Coinbase and Robinhood!

Overstock CEO Jonathan "JJ“ Johnson says he's hoping that one day tZero, a much smaller trading platform that offers some services similar to Coinbase, will be one day be a legitimate rival to the crypto behemoth that just listed on the Nasdaq Inc.

NDAQ, +0.75%

last Wednesday with a valuation that briefly hit around $100 billion.

He envisions a time soon that tZero achieves what he describes as the "Holy Grail“ for a trading platform.

What you want to have is a platform that has a "digital wallet that let's people hold and trade crypto, NFTs (nonfungible tokens), stocks, and digitized securities,“ Johnson told MarketWatch in an interview last week.

"It would be a Coinbase meets tZero, meets Robinhood,“ he said referring to the Robinhood Markets trading platform that has become popular among young investors and is planning a near-term public listing.

"All three [platforms] are working toward that Holy Grail,“ the Overstock CEO said. 

tZero, is a division of Overstock

OSTK, -3.85%,

based in Utah, that touts a trading operation that has drawn some attention in