MUFG Morgan Stanley Securities (MUFG MSS), the Japanese joint venture that’s an MUFG subsidiary, plans to issue digital securities this year, the Nikkei reported. Real estate backed security tokens currently account for around 80% of Japan’s market, whether that’s office buildings or residential blocks. MUFG MSS is currently focusing on digital bonds.
In the future, it hopes to use the Morgan Stanley overseas network to potentially sell Japanese digital bonds to foreign investors.
MUFG also owns 49% of Progmat, which is one of the two primary permissioned blockchain networks used for digital securities issuance in Japan. In addition to MUFG, Progmat’s investors include SMBC and Mizuho Bank as well as Sumitomo Mitsui Trust, SBI PTS, stock exchange owner JPX, NTT Data and Data Chain. The other major issuance network is iBet for Fin by BOOSTRY, founded by the Nomura group.
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