Intercontinental Exchange Invests in tZERO Group

A prominent operator of global exchanges and clearing houses, Intercontinental Exchange (ICE) recently revealed a strategic investment in tZERO, an international leader in blockchain technology for capital markets.

Terms of the recent investment from Intercontinental Exchange were not disclosed. According to ICE, the investment will make the company a significant minority shareholder in tZERO. Moreover, David Goone, the Chief Strategy Officer at ICE, will join tZERO as the firm's next CEO.

Goone, who has been a longtime member of ICE’s management team, will serve on the Board of Directors of tZERO. Listed on the New York Stock Exchange (NYSE), ICE is a Fortune 500 company that provides various services including mortgage technology, listing and data resources.

“David Goone was present at many of ICE’s milestone moments and deals over two decades, a key player on our management team as we built our world-class trading, clearing and data infrastructure and product line and has been a steward of our problem-solving culture,” said Jeff Sprecher, the Founder, Chairman and CEO of Intercontinental Exchange. “David’s leadership and his mastery of trading, data and clearing technology will be a big asset as tZERO begins its next chapter leading the growth and adoption of next-generation market infrastructure.”

ICE saw strong growth in volumes across different platforms in 2021. Additionally, the operator started 2022 on a positive note with decent gains in the average daily volume (ADV).

tZERO

tZERO is one of the fastest-growing companies in the global blockchain ecosystem. Through a wholly-owned subsidiary, tZERO operates an SEC-regulated alternative trading system (ATS) and broker-dealer in the digital asset space.

“tZERO brings together issuers and financial firms seeking a transparent, automated, digitally enabled marketplace and investors seeking access to unique private assets, public equities, cryptocurrencies and other digital assets, including non-fungible tokens (NFTs),” ICE noted in its recent announcement.