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Osaka Digital Exchange to Start Security Token Trading Platform
The platform, named Start, will begin operation on Dec. 25 with a $20 million real-estate securities issuance.
Updated Mar 8, 2024, 5:21 p.m. Published Nov 20, 2023, 11:21 a.m. 1 min read
Osaka Digital Exchange (ODX) will start its new digital securities trading platform on Dec. 25, according to a Monday announcement.
Founded in 2021, ODX is made up of Japanese heavyweights from traditional finance, including SBI Holdings and Sumitomo Mitsui Financial Group (SMFG), and has the goal of setting up a digital stock exchange. ODX's proprietary trading system for security tokens, named Start, received regulatory approval on Nov. 16 from the country's financial watchdog.
Around 3 billion yen ($20 million) worth of tokenized securities will be issued by real estate firm Ichigo Owners, according to an SBI Holdings press release. The Ichigo Residence Token will be invested "in six highly convenient rental residential properties with excellent access to the city center, and is expected to be the largest issue price ever for an Ichigo Group [security token]," the statement said.
The token will be issued on Progmat, a software platform for issuing and managing digital assets that firms like Binance are hoping to use for issuing stablecoins in the country.
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The inclusion could attract fresh passive inflows from index-tracking funds, while the firm's stock tanked 95% from its peak over the past year.
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- SharpLink will join the Russell 2000 and Russell 3000 indexes effective June 29.
- The company held nearly 873,000 ETH, worth roughly $1.8 billion at current prices.
- The inclusion comes as many digital asset treasury firms have slowed or halted crypto purchases.
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