Tokai Tokyo Financial Holdings will partner with Singapore security token platform ADDX to enable security tokens across Asia, including Japan, Thailand and South Korea. ADDX is authorized by the Monetary Authority of Singapore and its holding company ICH X TECH is backed by the Singapore Exchange SGX.
The Nikkei reported that the two companies plan to set up ADDX Japan in 2023. As an initial step, Japanese real estate will be tokenized and packaged to sell to Singapore and Japanese investors in units of less than $10,000.
In late 2019, Tokai Tokyo invested $5 million in ADDX (formerly iStox). In the middle of last year, both companies invested in blockchain startup Hash Dash Holdings to launch a mobile-first security token app.
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