August 6, 2019 tZero, a subsidiary of Overstock.com, has been granted a patent for software that facilitates the settlement of tokenized securities on public blockchains.

The technology, Time Ordered Merkle Epoch (TOME), aims to incorporate traditional trading systems into blockchains by recording trading data in a time-series and creating a hash that can then be “anchored” to public blockchains, combining both off-chain order information and on-chain settlement information. This marks the latest move in tZero’s digital securities strategy, including another patent earlier this year aimed at integrating traditional trading systems with cryptocurrency exchanges, several high-profile hires, and the issuance of Overstock dividends in the form of tokenized digital shares.