Global Blockchain Accelerator Medici Ventures Announces Strategic Equity Purchase in Bankorus
Overstock.com, Inc. (OSTK)
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Source: GlobeNewswire
SALT LAKE CITY, March 11, 2019 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) announced its wholly-owned blockchain subsidiary, Medici Ventures, has purchased a 5.1 percent stake in Bankorus, a blockchain banking platform focused on custody, lending, and exchange of assets on the blockchain. Bankorus was founded in 2017 and has offices in Europe and China. The company’s blockchain banking platform allows individuals and institutions to securely buy, sell, store, and lend digital assets. “The addition of Bankorus to Medici Ventures’ portfolio of companies will further our work in building the foundation of a blockchain-based technology stack for society,” said Jonathan Johnson, president of Medici Ventures. “Bankorus has built a revolutionary blockchain banking platform that dovetails nicely with Medici Ventures’ goals of eliminating middlemen, democratizing capital, and rehumanizing commerce by helping individuals access and control their own digital assets.” Medici Ventur
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