Last Christmas day, the Osaka Digital Exchange (ODX) launched the START secondary market for tokenized securities. Founded by SBI, backers include Daiwa Securities, Nomura, SMBC and the CBOE. Japan has a reasonable amount of institutional tokenization activity, mainly around real estate. START plans to support security tokens for other asset classes, including aircraft, ships and renewable energy assets.
Trading has been muted as might be expected for a novel marketplace, and only two digital securities were available at launch. During the first month there were 110 transactions for a total of JPY 11 million ($73,600).
The securities firms involved with the first tokens were SBI Securities and Daiwa Securities. Nomura Securities and SMBC Nikko Securities are expected to join the platform this year. Others have also approached the trading platform.
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