An announcement on Monday stated that Osaka Digital Exchange (ODX) will launch its new digital securities trading platform on December 25.
ODX, a group of influential Japanese players in traditional finance, including SBI Holdings and Sumitomo Mitsui Financial Group (SMFG), was founded in 2021 with the intention of establishing a digital stock exchange. Starting on November 16, the nation’s financial watchdog gave regulatory approval to ODX’s proprietary security token trading system.
The real estate company Ichigo Owners plans to issue tokenized securities valued at about 3 billion yen ($20 million), per a press release from SBI Holdings. According to the statement, the Ichigo Residence Token “is expected to be the largest issue price ever for an Ichigo Group security token” and will be invested “in six highly convenient rental residential properties with excellent access to the city centre.”
Firms like Binance hope to use Progmat, a software platform for issuing and managing digital assets, to issue stablecoins in the nation. Progmat will host the token’s issuance.