Today Daiwa Securities announced it issued a one year, one billion yen ($6.6m) digital bond using the Progmat tokenization platform. The most novel aspect of the public bond is the interest will be paid in emoney from Rakuten Edy, one of the popular wallets in Japan. Unsurprisingly, the bond is targeting individual investors.
Daiwa Securities is Japan’s second largest broker behind Nomura.
A key purpose of the digital bond is to showcase to issuers the potential of issuing bonds where interest payments are not necessarily in cash. The likely goal might be marketing. While Daiwa did not mention it, other likely payment types could be stablecoins or utility tokens. Progmat is gearing up to launch its Progmat Coin solution for stablecoins.
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