Tokai Tokyo Financial Holdings reveals its plan of launching a digital security exchange in Japan.
A major Japanese traditional financial institution, Tokai Tokyo Financial Holdings has revealed a plan to launch a security token exchange.
According to Nikkei, Tokyo stock market index, taking the first step in journey, Tokai Tokyo is investing in Hash Dash Holdings, a blockchain company, to leverage the firm’s knowledge to develop the exchange. Hash Dash aims at applying blockchain technology to the financial industries for issuing digital securities and also, providing a trading service on smartphones.
The planned exchange will be trading in tokenized real estate. Tokai Tokyo, Hash Dash and ICHX TECH will explore this sector by digitizing Japanese real estate and trade it at, a digital security exchange, iSTOX it has invested in. They are also exploring digitising IPs and corporate bonds.
Tokai Tokyo hopes to connect its planned digital securities exchange with iSTOX so that investors can buy and sell digital assets at any of these exchanges, seamlessly. This will make it possible for Japanese corporations to raise money at the exchange in Singapore.
Tokai Tokyo’s Plan in Crypto Industry
Tokai Tokyo is an investor in Huobi Japan, a licensed crypto exchange in Japan. In December last year, it invested 500 million Yen, i.e. approx $4.7 million, in Huobi Japan. The aim was to start IEO (Initial Exchange Offering) to help corporations raise money.
In March, Tokai Tokyo became a member of Japan Security Token Offering Association, which is a self-regulatory body for STO.