SBI Securities and Daiwa Securities are planning a settlement platform to support the purchase of Japanese security tokens by foreign investors, with Singapore as the first target market, according to a report from the Nikkei. To date the majority of Japanese tokenized issuances have been for the real estate sector, with a few corporate bonds. In addition to these two asset classes, the securities firms aim to support tokenized investment in the anime sector as well as tokenized sake. The initiative has received approval from the Japan Securities Dealers Association and aims to go live in 2027 at the earliest.
The settlement of overseas investments will use the USDC stablecoin, and potentially a yen stablecoin in future, with SBI having issued one, although it is not yet fully in circulation. SBI is an investor in both of the major Japanese tokenization platforms, but BOOSTRY was chosen over Progmat in this case. If Singapore proves successful, the firms plan to explore other jurisdictions and potentially offer Singapore investments to Japanese clients.
Both companies already have a presence in Singapore. Daiwa Securities has been active in the country for over 50 years, initially through a joint venture with DBS, but now has a wholly owned subsidiary. One of SBI’s Singapore subsidiaries is SBI Digital Markets which helps with tokenization and distribution. Earlier this year it tokenized music IP rights.
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