(ICE) The Intercontinental Exchange Inc., the parent of the New York Stock Exchange, has announced it will take a “significant” minority stake in tZero Group, Inc.
ICE says the stake will have no financial impact to the entity or its capital return plans.
ICE did not provide the dollar value or stake size of the transaction.
Long-time serving executive at ICE David Goone will act as tZERO’s new CEO and also join the board of directors.
ICE also holds a majority stake in crypto exchange Bakkt, which listed in October last year through a blank cheque company after a merger with VPC Impact Acquisition Holdings.
Investors in tZERO also include Overstock.com and Medici Ventures.
ICE: NYSE is up +0.20%.
