US retail giant Overstock is reportedly expanding its tZero blockchain stand with new employees in Ireland.
The local news agency Silicon Republic reported on November 10 that the Utah-based e-commerce company is looking for software engineers and specialists to work in its tZero blockchain and security token division.
As reported, the new tZero employees are part of a new team at Overstock headquarters in Sligo, Western Ireland. The electronics retailer already has 90 employees working in artificial intelligence, research and development, and machine learning.
Overstock senior development manager John Ford said tZero operates in the “fast-growing digital stock market,” and said:
“This is a great time for Overstock Ireland to partner with tZero to expand in this area. It provides diversity in terms of technology and business areas and allows us to offer interesting and challenging positions here in the Northwest. ”
According to Overstock’s third quarter 2020 earnings report, tZero boosted revenue 97% last year to $ 11.1 million in the first quarter of 2020. However, tZero remained unprofitable and lost $ 12.3 million in the third quarter.
Overstock was one of the first major companies to announce support for Bitcoin (BTC). Following the launch of the tZero security exchange in late 2016, Overstock also completed a $ 134 million ICO for tZero in August 2018.