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One venture capital firm based in Hong Kong recently placed a major bet that tZero, which is a security token exchange owned by eCommerce company Overstock, will soon prove to be a central hub in the “tokenization of everything” according to blockchain visionaries.

GSR Capital is the name of the Hong Kong venture capital firm which also has offices in Silicon Valley and Beijing. As of recently, this VC firm has entered into an agreement to purchase $160 million worth of tZero security tokens, according to the firm’s announcements this Friday.

The tokens currently run on the Ethereum blockchain as ERC-20 tokens. They do not constitute company equity and confer no voting rights. As such, they do entitle investors to dividends and approximately 10% of the tZero adjusted gross revenue will be distributed to token holders on a quarterly basis.

Meanwhile, tZero recently entered into another joint venture with the firm BOX Digital Markets, which is a subsidiary of the Boston Stock Exchange, in order to develop a platform which will be the first regulated security token exchange (according to backers).

The CEO of Overstock and tZero Executive Chairman Patrick Byrne commented on the situation, stating:

“Years ago we saw the world-shaking potential of blockchain, and since then we have been methodical in building tZERO into a company that will bring great efficiency and transparency to capital markets domestically and abroad. I truly believe what we are doing is historic and, while there is still much to be done, our success in this STO [security token offering] has given us the resources we need to see it through.”

What’s most interesting is that excluding this investment, the company says that it has received $168 million worth of token sale commitments of which it physically received $95 million.