The trust division of Japan’s largest banking group, MUFG, has played a role in 37 security tokens representing more than half of Japan’s real world asset security token issuances to date. But until this week’s Yen 22.4 billion ($142 million) token it had not issued an own brand real estate token.
Last year it acquired a building for this purpose, and has now launched the MUFG Realty Token for the Osaka Dojimahama Tower. It’s a true groupwide effort. The asset manager is MUFG Real Estate with Mitsubishi UFJ Trust and Banking Corporation acting as trustee for the structure. The token is issued on Progmat, the blockchain platform founded by MUFG in which it is now a minority investor.
Distribution is split between Nomura Securities and Mitsubishi UFJ Morgan Stanley, which launched the ASTOMO digital securities platform last year, offering security tokens to retail investors. This is the second token ASTOMO is distributing.
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