Tokai Tokyo Financial Holdings, one of Japan’s leading traditional financial institutions, has unveiled a plan to develop a stock token exchange. Tokai Tokyo is already an investor in Huobi Japan.
According to Nikkei, as a first step on the journey, Tokai Tokyo is investing in the blockchain company Hash Dash Holdings to leverage the company’s expertise in developing the exchange. Hash Dash aims to apply blockchain technology to the financial industry for digital securities issuance and provide a trading service on smartphones.
Research suggests that transparency is the key to utility-based crypto-projects
The planned exchange will market tokenized real estate, and Tokyo Tokyo, Hash Dash and ICHX TECH will explore this sector by digitizing Japanese real estate and marketing it on iSTOX, a digital stock exchange in Singapore in which it has invested. They are also exploring the possibility of digitizing intellectual property and corporate bonds.
Tokyo Tokyo hopes to connect its Japanese exchange to iSTOX so that investors can easily buy and sell digitized assets on either exchange, allowing Japanese companies to raise money on the Singapore exchange.
Hedera Expands Reach After Addition to BRD Wallet
Tokyo’s plan in the crypto coin industry
Last December, Tokyo Tokyo invested JPY 500 million (about USD 4.7 million) in Huobi Japan, a crypto-currency exchange licensed in Japan. The plan was to initiate the Initial Exchange Offer (IEO) to help corporations raise money. The company was also considering trading some EU currencies on the Huobi IEO.
In March, Tokyo Tokyo became a member of the Tokyo Value Offering Association of Japan, a self-regulatory organization of the STO.