Japan’s SBI Holdings financial group takes the security token industry more seriously.
SBI intends to conduct its own share distribution in SBI e-Sports, the company’s new e-sports arm, Cointelegraph Japan reported on October 9.
SBI said the upcoming STO will be implemented using ibet, the blockchain platform developed by Boostry Digital Security Startup. The STO to be held on October 30th will be implemented by SBI Securities subsidiary of the SBI, with SBI Holdings acting as guarantor.
SBI said the company considers STO a “key fintech technology” and plans to codify a number of other assets in the future. The company said it appeared to be coding assets such as real estate, art and intellectual property rights, including copyrights for games and movies.
A security token offer, or STO, is a type of public offering in which distinct digital securities, known as security tokens, are traded on private exchanges. A collateral symbol is an investment contract in a primary investment asset such as stocks, bonds, mutual funds, and real estate investments.
The company’s upcoming STO news emerged shortly after SBI took another step in this room by acquiring a 10% stake in Boostry in July 2020. As reported, Boostry is a joint venture between Japanese investment giant Nomura and Nomura Research Institute.