Daiwa Securities Group and Ginco issue security token on public chain, proof of concept for platform development | CoinDesk JAPAN

Daiwa Securities Group Inc., Daiwa Securities, Fintertech, and Ginco announced on November 30th that they will conduct a proof of concept (PoC) to develop Japan’s first public chain security token issuance and issuance platform.

According to the release, Daiwa Securities will commercialize security tokens (digital securities) that utilize blockchain technology in February 2022. The cumulative underwriting amount of asset-backed security tokens is 22.6 billion yen, and as of November 30, 2023, it has the top share in Japan in terms of value.

Currently, security tokens issued in Japan are mainly issued on private chains and consortium chains, but globally there are also security tokens issued on public chains. Although there are various issues, it is said that it has the advantage of transparency and interoperability, as external references and transfer instructions can be freely given.

The proof of concept was carried out in collaboration with Daiwa Securities Group Headquarters, Daiwa Securities, group company Fintertech, and Web3 development company Ginco. It is scheduled to be implemented after January 2024.

｜Text/Editing: CoinDesk JAPAN Editorial Department
｜Image: From release materials