In December 2023, Osaka Digital Exchange (ODX) will launch Japan's first digital securities trading on the Start platform in the form of security tokens, which are the digital equivalent of ordinary securities. According to the stock exchange, this will meet the demand of private individuals for alternative assets with higher returns.
Last week, the Osaka Stock Exchange received approval from Japan's financial regulator to launch a new direction. ODX, founded in 2021 by SBI Holdings and Sumitomo Mitsui Financial Group (SMFG), said real estate firm Ichigo Owners will issue 3 billion yen (approximately $20.2 million at press time) of tokenized securities.
According to the press release, these tokens will represent an investment in six residential rental properties with excellent access to the city center. The company expects this to be the highest price for an Ichigo token issue.
Exchange representatives reported that trading on the Start platform will begin on December 25, 2023. According to a report by Progmat, the market for these assets in Japan is currently estimated at 129.3 billion yen ($872 million).
