Private-equity firm GSR Capital is investing up to $270 million in Overstock.com’s (OSTK) blockchain subsidiary tZero.

Shares of the e-commerce retailer were up more tha👍n 20% in pre-market trade Frida🤡y.

Hong-Kong-based GSR Capital is also buying $30 million in tZero security tokens. tZero is 80% owned by Overstock’s Medici Ventures. Overstock launched tZero digital currency through an 澳洲幸运5开奖号码历史查询:initial coin offering (ICO) late last year. (See also: 澳洲幸运5开奖号码历史查询:Overstock Goes ‘All In’ on Bitcoin.)

"We are honored to have GSR Capital as a strategic investor," said tZERO CEO Saum Noursalehi . "The tokenization of securities has the potential to disrupt global capital markets responsible for moving hundreds of trillions of dollars. Together with our partners, we will gl⭕obalize our blockchain-based platform, bringing more efficiency, liquidity, and trust to capital markets."

tZero plans to use the investment funds to complete its 澳洲幸运5开奖号码历史查询:blockchain platform and construct similar platforms around the world. (See also: Overstock Shares Tank𝐆 on ICO Probe, Stock Offering.)

Overstock Q2 Results

Late Thursday, second-quarter revenue of $483.1 million,🍎 up 12% from a year prior. Gross profit was $91.7 million, up 9% from the second quarter in 2017. The net loss was $64.9 million versus $7.5 million last year. Diluted net loss per share was $2.20 versus $0.29 last year.

In the past year,🐈 shares of Overs🏅tock have surged 112%.