Mitsubishi Corporation enters real estate security tokens ─ 20 projects using Progmat, exceeding 100 billion yen | CoinDesk JAPAN

Mitsubishi Corporation has entered the real estate security token (ST) market, following Mitsui & Co. and Marubeni.

Diamond Realty Management (DREAM), a wholly owned subsidiary of Mitsubishi Corporation, Mitsubishi UFJ Trust and Banking, and Daiwa Securities announced on January 31 that they have collaborated on the public offering of real estate security tokens (ST) and have completed the offering and issuance. Announced. For ST issuance, we utilized Progmat, a digital asset issuance and management platform provided by Progmat.

The target properties were three student residence properties located in Tokyo and Osaka. Number of units issued/total amount issued: 3,500 units/3.5 billion yen.

Since its establishment in October 2004, DREAM has been involved in the composition and management of private real estate funds and provided real estate investment management services to institutional investors and business companies. By working on real estate ST this time, they aim to further expand and develop the real estate investment market by providing general investors with the opportunity to invest in large-scale real estate, which was previously limited to institutional investors and business companies.

In addition, this ST issuance marks the 20th project using Progmat, and the transaction amount (balance of assets subject to ledger management) exceeded 100 billion yen. Real estate ST is likely to show significant growth in 2024 as well.

｜Text/Editing: CoinDesk JAPAN Editorial Department
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