Japanese financial conglomerate SBI Holdings now seems to be more serious about its STO [Security Token Offerings] industry.
According to a recent official news today, SBI revealed that the upcoming STO is going to be conducted employing ibet, a blockchain platform developed by digital security startup Boostry. Scheduled for 30th Oct., the STO will be administered by SBI’s online securities subsidiary, SBI Securities, while SBI holdings will act as an underwriter.
SBI added that the firm considers STOs a “core technology of fintech” & plans to tokenize a variety of other assets within the future. The firm stated that it’s to tokenize assets like real-estate, fine art, as well as property rights along with copyrights for games and films.
A security token offering, or STO, is a form of public offering within which tokenized digital securities, referred to as security tokens, are sold on special exchanges. A security token represents an investment contract into an underlying investment asset, like stocks, bonds, funds, and real estate investment trusts.
Reports of the firm’s upcoming STO comes shortly after SBI made another attempt into space by acquiring a tenth stake in Boostry earlier in July this year. As reported, Boostry is a venture of Japanese investment giant Nomura & Nomura Research Institute.