TL;DR
- tZERO, the blockchain-focused subsidiary of Overstock.com, announced on August 20, 2019, that Ravencoin would become the third cryptocurrency supported on its mobile wallet app
- Ravencoin joins Bitcoin and Ethereum on the platform, which focuses on tokenized asset trading
- The addition signals growing institutional interest in blockchain infrastructure for digital asset issuance
- INX Limited also filed for a $129.5 million IPO with the SEC on the same day, highlighting the sector’s maturation
- ETC surged nearly 9% while most altcoins posted modest losses on a quiet trading day
August 20, 2019, was a landmark day for the digital asset infrastructure space. tZERO, the blockchain subsidiary of Overstock.com, announced that Ravencoin (RVN) would become the third cryptocurrency available on its mobile wallet app, joining Bitcoin and Ethereum. The move underscored the growing convergence between traditional finance infrastructure and blockchain-native token issuance platforms.
Ravencoin, an open-source blockchain specifically designed for asset creation and transfer, was a natural fit for tZERO’s vision. Unlike general-purpose blockchains, Ravencoin was built from the ground up to handle the creation and management of digital assets — from real estate tokens to equity representations. Its inclusion in tZERO’s app signaled that the platform was thinking beyond simple cryptocurrency trading toward a broader tokenized economy.
The tZERO Strategy
tZERO had been one of the earliest entrants in the race to build regulated, blockchain-based trading platforms for digital securities. Backed by Overstock.com and its outspoken CEO Patrick Byrne, the company had positioned itself at the intersection of Wall Street regulation and crypto innovation. The tZERO Crypto app, launched earlier in 2019, was designed to give retail users access to both traditional cryptocurrencies and, eventually, security tokens.
By adding Ravencoin, tZERO was making a calculated bet. Ravencoin’s architecture made it particularly well-suited for issuing and transferring ownership of real-world assets on-chain. The platform’s focus on regulatory compliance — Ravencoin was designed to support compliance features like restricted assets — aligned with tZERO’s regulated approach to digital asset trading.
INX Limited’s Bold IPO Move
The same day brought another significant development for the crypto infrastructure space. INX Limited, a Gibraltar-based crypto exchange, filed a draft F-1 form with the United States Securities and Exchange Commission, announcing plans to raise $129.5 million through an initial public offering. The IPO would see INX offer 130 million INX Tokens to both retail and institutional investors.
The INX filing was remarkable for several reasons. First, it represented one of the first attempts by a crypto-native company to go public through a traditional SEC registration process rather than through a backdoor listing or overseas regulatory arbitrage. Second, the choice to offer tokens rather than traditional equity reflected the hybrid nature of crypto businesses — straddling the line between technology companies and financial institutions.
The $129.5 million target also reflected the growing confidence in crypto infrastructure as a viable investment category. Despite the lingering effects of crypto winter, institutional capital was beginning to flow into the building blocks of the digital asset economy.
Market Context: A Quiet Day with One Standout
The broader crypto market on August 20, 2019, was relatively subdued. Bitcoin traded at approximately $10,763, down less than 1% on the day. Ethereum sat at $196.57, declining about 2.7% over 24 hours. Most major altcoins posted losses in the 1-3% range, according to Kraken’s daily market report, which recorded $113 million in total trading volume across its platform.
The one exception was Ethereum Classic (ETC), which surged nearly 9% to $6.12 — a significant move that stood out against the otherwise flat market. The ETC rally was attributed to the Ethereum Classic Labs Accelerate Program, which was promoting development of applications on the ETC blockchain. Historically, ETC pumps have sometimes been seen as late-cycle rotation signals, though the broader market context in August 2019 suggested a consolidation phase rather than a trend reversal.
Ravencoin’s Unique Value Proposition
What made Ravencoin particularly interesting in the context of digital collectibles and tokenized assets was its purpose-built architecture. Unlike Ethereum, which handles smart contracts as a general-purpose computing platform, Ravencoin was designed specifically for asset tokenization. Creating a new asset on Ravencoin required no smart contract knowledge — users could issue tokens directly through the protocol’s native commands.
This simplicity was intentional. Ravencoin’s creators wanted to make it as easy to create and transfer digital assets as it was to send Bitcoin. The protocol also included built-in features for messaging between asset holders, voting on asset-related decisions, and restricting asset transfers to KYC-verified addresses — features that made it attractive for regulated token offerings.
The Bigger Picture
The developments of August 20, 2019, fit into a larger narrative about the maturation of crypto infrastructure. From tZERO’s regulated trading platform to INX’s SEC-registered IPO to Ravencoin’s asset-focused blockchain, the pieces were being put in place for a more sophisticated digital asset ecosystem. While the speculative frenzy of 2017 was firmly in the rearview mirror, the foundations being laid in 2019 would prove essential for the digital collectibles boom and broader tokenization trends that followed.
The quiet confidence of these infrastructure investments — happening while the market traded sideways — was a reminder that the most important developments in crypto often occur far from the headlines about price movements.
Why This Matters
The addition of Ravencoin to tZERO’s platform and the INX Limited IPO filing on the same day represented a broader shift in the crypto industry from speculation toward infrastructure. These were not moon-shot bets on price appreciation — they were calculated investments in the plumbing of a future digital asset economy. For anyone tracking the evolution of tokenized assets and digital collectibles, August 20, 2019, was a day when the industry’s long-term vision came into sharper focus.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry risk. Always do your own research before making investment decisions.