We previously reported that MUFG Trust’s blockchain platform Progmat would support security tokens and stablecoins issued by multiple firms. However, it will also be a platform for ‘utility tokens’.
Initially, these utility tokens are quite different from public blockchain tokens. They will be used to provide shareholder rewards (yuutai).
Almost half of listed Japanese firms provide some sort of reward to stockholders, often those holding more than 100 shares. Typically this takes the form of discounts on the company’s products. For example, Japan Airlines provides a 50% discount on a one-way domestic flight and the more shares owned the more discount coupons are provided. But it can also involve gift cards, points, memberships and other benefits. Another example is SBI provides XRP cryptocurrency to investors.
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