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According to a Nov. 20 notice from Japan’s Osaka Digital Exchange, ODX is set to initiate the trading of digital securities in the country through the issuance of security tokens on Dec. 25.
These tokens will be issued by Ichigo, a Tokyo-based real estate investment company, and Kenedix, selling about $20.1 million in securities, according to a coinciding Bloomberg report.
Dedicated to ongoing efforts
The introduction of the trading of security tokens on the exchange is said to be geared towards streamlining the investment process for individual investors, however, the modest size of Ichigo’s sale, according to Bloomberg, implies that market participants are currently assessing the level of demand for these securities.
Details regarding the specific issues to be facilitated on START will be disclosed on the company’s website as they are approved following a thorough examination.
Facilitating the turnover
At the same time, reports from October suggest Japan is gearing up to introduce a bank-supported digital currency in 2024. GMO Aozora Net Bank, a Japanese internet bank, is reportedly set to launch the yen-pegged digital currency, denoted as DCJPY.
This digital currency will be backed by bank deposits and utilize a blockchain network developed by DeCurret, a Japan-licensed cryptocurrency exchange that became part of Amber Group’s portfolio in early 2021.
The latest announcement then becomes another major development towards digital asset adoption in Japan, joining several others over the last couple months.