Blockchain Firm TZero Appoints CEO to Build Broker-Dealer Unit

New York-based blockchain and security token firm TZero has hired Elliot Grossman, formerly the managing director of equity trading at Dinosaur Financial Group, CEO of a new broker-dealer affiliate.

At TZero, Grossman will be responsible for the establishment and management of its planned broker-dealer division. The planned broker-dealer is still in the process of applying for regulatory approvals and has not begun operations.

Grossman began his career 15 years ago at Dinosaur Financial, where he pioneered its equity business. He was in charge of Dinosaur’s electronic trading systems and helped build the brokerage’s private client group and international trading business. Grossman was also senior vice president at DCM Advisors, an investment advisory firm owned by Dinosaur’s parent group.

TZero had originally partnered with Dinosaur as the broker-dealer for its security tokens.

TZero is an affiliate of online retail company Overstock.com through its blockchain subsidiary Medici Ventures. It already runs two broker-dealer platforms, SpeedRoute and PRO Securities. PRO Securities began offering security tokens for trading in January this year. TZero bought SpeedRoute in 2015.