PlayIconNav
BTC
$68,887.18+1.93%
ETH
$3,298.43+1.40%
BNB
$586.82+1.40%
SOL
$183.69+0.99%
XRP
$0.59860277+1.56%
DOGE
$0.13530602+3.82%
CD20
$2,319.79+2.31%
TON
$6.68-1.80%
ADA
$0.42332127+2.20%
TRX
$0.13734502-0.32%
AVAX
$29.07+3.32%
WBTC
$68,932.91+1.92%
Ad
Finance

SBI Subsidiary to Hold Security Token Offering Later This Month

The Japanese financial group is also mulling other business lines around tokenized securities.

By Daniel Palmer
AccessTimeIconOct 9, 2020 at 1:19 p.m. UTC
Updated Apr 10, 2024 at 2:41 a.m. UTC
SBI Holdings

Japanese financial group SBI Holdings has announced it is moving into security token offerings (STOs), with a first sale of tokenized stock to take place at the end of October.

  • In a news release Friday, the company said its subsidiary SBI e-Sports Co., Ltd. will issue 1,000 shares of common stock, with SBI Holdings as the underwriter.
  • The STO will be conducted on a blockchain platform called Ibet from Boostry – a Nomura Holdings-owned company that specializes in digital security infrastructure.
  • SBI Holdings further said it may go on to launch a business managing public offerings of digital corporate bonds through SBI Securities, another subsidiary of the SBI Group.
  • SBI Securities may also take on business related to holding STOs for assets such as real estate, fine arts and intellectual property, citing copyrights for games and movies as examples.
  • This would allow investors to own smaller shares of such assets, the company said.
  • SBI said it views use cases of blockchain technology such as STOs as "core technology" of fintech and that it's focusing on building business lines in the field.
  • SBI Holdings recently agreed to acquire crypto exchange TaoTao, and is already a partner of U.S.-based blockchain payments tech company Ripple, having launched a joint venture to offer a cash transfer app called Money Tap.
  • Earlier this year, the firm gave shareholders the option to receive the Ripple-linked XRP cryptocurrency as a benefit.
VolumeMuteUnmute

RFK Jr. Says He's 'Fully Committed' to Bitcoin; Jersey City to Invest in Bitcoin ETFs

  • What Do EigenLayer's Outflows of $2.3B Signal?
    00:57
    What Do EigenLayer's Outflows of $2.3B Signal?
  • What Do TradFi Crypto Moves Mean for Decentralization?
    04:20
    What Do TradFi Crypto Moves Mean for Decentralization?
  • Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
    02:02
    Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
  • Ether Slides as Grayscale's ETHE Outflows Ramp Up
    00:53
    Ether Slides as Grayscale's ETHE Outflows Ramp Up

    • Also read: Japanese Crypto Exchange TaoTao Agrees to SBI Purchase After Binance Talks End

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.