Nomura and Daiwa Securities are to each take 5% stakes in the Osaka Digital Exchange (ODX), which is creating a marketplace for security tokens. In January, initial plans for the ODX were revealed with SBI holding 60% and SMBC the balance. However, in today’s announcement, SBI will have a 70% stake with SMBC at 20%.
So far, the company is capitalized at four billion yen ($35 million).
ODX will start trading stocks in the spring of 2022, with security token offerings (STOs) to follow. It envisions the tokenized securities including those backed by real estate and for project finance. Blockchain will act as the registry for all transactions.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
