Today MUFG announced that Marubeni Asset Management (MAM) is launching its first security token issuance for real estate and will use MUFG’s Progmat blockchain platform. The public offering of tokens will be sold via SBI Securities.
MAM is a significant real estate investment trust (REIT) manager and has a total of Yen 508.8 billion ($3.7bn) assets under management. According to the announcement, MAM is looking to diversify its funding sources.
The initial security is for Granair Komagome, a Tokyo building mainly targeting small residential units with a total issue price of Yen 836 million ($6 million) and a minimum investment of Yen 100,000 ($725).
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