Financial giant SBI launches its first security token offering in October

The Japanese financial conglomerate SBI Holdings takes the security token provider industry seriously.

SBI plans to operate its own STO by reallocating shares in SBI e-Sports, the company’s new esports gaming arm.reports Cointelegraph Japan on October 9th.

Announcing the news on Friday, SBI announced that the next STO will be held with ibet, a blockchain platform developed by digital security startup Boostry. Scheduled for October 30th The STO is conducted by SBI’s online securities subsidiary, SBI Securities, while SBI holdings act as subscribers.

Financial giant SBI launches its first security token offering in October
Financial giant SBI launches its first security token offering in October

According to SBI, the company views STOs as “core fintech technology” and plans to label a number of other assets in the future.. The company said it would label assets such as real estate, visual arts, and intellectual property rights, including copyrights to games and movies.

A security token offering or STO is a type of public offering in which tokenized digital securities, so-called security tokens, are sold on special exchanges. A security token represents an investment contract in an underlying asset such as stocks, bonds, funds, and real estate mutual funds.

The news of the company’s upcoming STO comes shortly after SBI took another step into space by acquiring a 10% stake in Boostry in July 2020. As reported, Boostry is a joint venture of Japanese investment giant Nomura. and Nomura Research Institute.

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