Kitao highlighted that this exchange would be a platform for the circulation of their users’ assets.
The first STO proposed to appear in the trading store in June and July.
SBI Holdings (HD) soon going to spread its arms on the digital asset industry. In a press conference, the President of SBI HD announced that the company is extending its business into Security Token Offering (STO) in the coming April.
This new proposal will prove a great platform for its venture business and other users. SBI HD is working on the project of establishing a new private exchange and securities company.
The company is aiming to start its business within 2020 as soon as it gets approved by the Financial Services Agency.
What is STO?
The Securities Token Offerings (STO) in other words Tokenized IPO stands for a public offering system which organizes, manage, and record securities such as bonds and stocks in a blockchain which is difficult to misrepresent.
Kitao highlighted that this exchange would be a platform for the circulation of their users’ assets. Also, it will be convenient for the investors in their target investment. It will be a gift for small and medium-sized ventures who are unable to raise their funds through an initial public offering (IPO).
In October 2019, six prime Japanese brokerage firms namely SBI Securities, Rakuten Securities, Monex, Nomura Securities, Kabu.com Securities, and Daiwa Securities officially formed “Japan Security Offering (STO),” to raise funds by uniting expertise in the industry. This Japan STO Association headquartered in Tokyo following by the chairperson Yoshitaka Kitao.
Kitao is the CEO as well as representative director of SBI HD and Also an executive in Ripple Labs. He is coordinating with the members of the association for the establishment of this new exchange. The first STO proposed to appear in the trading store in June and July.
About SBI Holdings
SBI Holdings, also known as Strategic Business Innovator Group, is a leading financial service industry based in Tokyo. Started in 1999 as SoftBank Investment, it offers various financial instruments mainly online securities, internet banking, life insurance business and many more.