Intercontinental Exchange (ICE) has agreed to invest in tZERO's latest financing round and license the company's blockchain patent portfolio, the two firms said Aug. 31. The deal makes tZERO a design partner for ICE's proposed NYSE-affiliated tokenized-securities platform. Financial terms of the investment and the patent license weren't disclosed.
The patent portfolio
TZERO holds 23 patent families covering 103 patents. That's the intellectual property ICE is licensing as it builds out its tokenized-securities infrastructure. The license gives ICE access to tZERO's work in blockchain-based trading and settlement, though the companies didn't break down which patents are included or how long the license runs.
A design partner role
Under the agreement, tZERO is expected to become an approved digital transfer agent and a platform subscriber. That role is conditional, subject to regulatory, technology and operational requirements. No launch date has been set for the NYSE-affiliated platform, and the companies didn't say when tZERO might clear those hurdles.
Collateral management test
ICE and tZERO will also evaluate whether tZERO's tokenized assets could be used in collateral management at ICE clearing houses and affiliates. That's a potential use case, not a commitment. The two firms said they'll explore it, but there's no timeline for a decision.
The next concrete step is regulatory approval. tZERO's role as transfer agent and subscriber depends on meeting those requirements, and neither company has said when that might happen. For now, the deal is signed, but the platform's timeline remains open.
