Yesterday MUFG announced the results of the Security Token Research Consortium’s work towards creating a Japanese infrastructure for tokenized securities. A key requirement is to have a functioning secondary market, and SBI’s previously announced Osaka Digital Exchange (ODX) will take on that role.
In terms of the blockchain platform that will hold the securities records, that will be MUFG’s Progmat securities platform. The aim is to enable other securities firms to connect to Progmat.
So far, nine securities companies have signed up. These include Daiwa Securities, Tokai Tokyo Securities, Mitsubishi UFJ Morgan Stanley Securities and its joint venture partner Morgan Stanley MUFG Securities, au Cubcom Securities, SBI Securities, SMBC Nikko Securities and two unspecified members. However, there are now 62 firms involved in the Consortium.
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