Mitsubishi UFJ Trust and Banking, the trust division of MUFG, has acquired a high rise in Osaka City for more than Yen 100 billion ($681 million). It intends to use it to create digital securities and sell tokenized real estate to both retail and institutional investors, the Nikkei reported.
On the institutional front, it will be sold to life insurers as a private real estate investment trust (REIT).
Whereas digital bonds are the prominent form of tokenization in Europe, in Japan it is tokenized real estate. There have been several issuances, but the market is still nascent. This is evidenced by the secondary market for the tokens, the Osaka Digital Exchange’s (ODX) START marketplace. It has six real estate tokens listed with modest monthly trading volume of Yen 23 million ($157,000).
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