Yesterday Mitsui & Co Digital Asset Management (Mitsui) announced it would launch an asset-backed security token next month through a collaboration with MUFG and SBI Securities. The issuance will likely be for Yen 760 million ($6.7m) over five years.
Mitsui will tokenize an interest in a warehouse, using MUFG’s blockchain platform Progmat and SBI Securities will offer the tokens to the public. MUFG is the trustee for the project. The property is part of Mirai, an investment company jointly managed by Mitsui Asset Management and Idera Capital.
The warehouse is located on Rokko Island, a man-made island between Osaka and Kobe. The tenant is HAVI supply chain and the distribution center services a major restaurant chain and 600 stores in the Kansai area.
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