tZERO and North Capital Route First Order Through Agora Network, Connecting Tokenized Securities Markets

tZERO Group, Inc., a leader in blockchain-based financial infrastructure, and North Capital Investment Technology, Inc., a financial technology company, announced the successful routing of the first order via the Agora Network. This milestone marks the launch of live operations for the industry's first network designed to connect alternative trading systems (ATSs) for tokenized and private securities.

The Agora Network addresses one of the most persistent challenges in private and tokenized markets: fragmentation. Historically, issuers, investors, and intermediaries have operated within isolated marketplaces, limiting access, visibility, and potential liquidity. Through a common discovery and routing framework, Agora enables ATS participants and their broker-dealer and institutional customers to connect to multiple ATS venues without requiring bespoke integrations with each platform.

This first order routed validates the vision outlined when the companies announced their strategic partnership in January 2026 to create shared infrastructure. The network allows qualified participants to identify trading interest and route orders across connected venues while preserving the independence, compliance frameworks, and operational controls of each participating ATS.

"This first order routed demonstrates that the future of tokenized securities will be built on connectivity, not isolation and fragmentation," said Alan Konevsky, Chairman & Chief Executive Officer of tZERO. "Capital markets work best when participants can access opportunities across a broad ecosystem rather than through disconnected pools of liquidity. Agora is designed to preserve the strengths and independence of individual platforms while creating the infrastructure that allows them to participate in a larger network."

"The successful completion of the first order routed via Agora validates the technology and market model behind the network," said Jim Dowd, Chief Executive Officer of North Capital. "Our objective has been to create common infrastructure to enable greater connectivity to potential liquidity and transparency, while allowing ATSs and issuers to maintain control of their businesses."

The initial phase of the Agora Network enables order-routing and discovery between tZERO’s ATS and North Capital’s PPEX ATS. Eligible and approved customers of each firm, through their existing broker-dealer and ATS relationships, can identify potential trading interest and route orders through the shared framework without directly accessing the other firm’s ATS. Future phases are expected to expand the network to additional ATSs, broker-dealers, liquidity providers, and other market participants, further extending access across the tokenized securities ecosystem.

The launch of live order routing powered by Agora advances both companies' broader objective of supporting a more interoperable market structure for tokenized securities and private assets. This development is significant for the Texas business community, as tZERO is headquartered in New York but its blockchain-based solutions impact markets nationwide, including Texas. The company's broker-dealer subsidiaries, such as tZERO Digital Asset Securities, LLC, are registered with the SEC and members of FINRA and SIPC, as detailed on FINRA’s BrokerCheck. The Agora Network could provide Texas-based issuers and investors with greater access to liquidity and trading opportunities in tokenized securities, potentially fostering economic growth in the state's burgeoning fintech sector.

For more information about tZERO and its subsidiaries, visit their website. Details about North Capital and its PPEX ATS can be found at www.northcapital.com.