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SBI Subsidiary to Hold Security Token Offering Later This Month

The Japanese financial group is also mulling other business lines around tokenized securities.

Aggiornato 10 apr 2024, 2:41 a.m. Pubblicato 9 ott 2020, 1:19 p.m. Tradotto da IA
SBI Holdings

Japanese financial group SBI Holdings has announced it is moving into security token offerings (STOs), with a first sale of tokenized stock to take place at the end of October.

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  • In a news release Friday, the company said its subsidiary SBI e-Sports Co., Ltd. will issue 1,000 shares of common stock, with SBI Holdings as the underwriter.
  • The STO will be conducted on a blockchain platform called Ibet from Boostry – a Nomura Holdings-owned company that specializes in digital security infrastructure.
  • SBI Holdings further said it may go on to launch a business managing public offerings of digital corporate bonds through SBI Securities, another subsidiary of the SBI Group.
  • SBI Securities may also take on business related to holding STOs for assets such as real estate, fine arts and intellectual property, citing copyrights for games and movies as examples.
  • This would allow investors to own smaller shares of such assets, the company said.
  • SBI said it views use cases of blockchain technology such as STOs as "core technology" of fintech and that it's focusing on building business lines in the field.
  • SBI Holdings recently agreed to acquire crypto exchange TaoTao, and is already a partner of U.S.-based blockchain payments tech company Ripple, having launched a joint venture to offer a cash transfer app called Money Tap.
  • Earlier this year, the firm gave shareholders the option to receive the Ripple-linked XRP cryptocurrency as a benefit.

Also read: Japanese Crypto Exchange TaoTao Agrees to SBI Purchase After Binance Talks End

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