Japan, Jan 30, 2021 /AlexaBlockchain/ – SBI Holdings has reportedly partnered with Sumitomo Mitsui Financial Group (SMFG) to launch a digitalized stock exchange in Osaka in the spring of 2022.
- SBI Holding and SMFG are planning to launch the digital platform to compete against the Tokyo Stock Exchange (TSE), according to a Nikkei report Thursday.
- It will be the first Japanese exchange to handle digital securities using blockchain technology.
- The exchange is expected to start handling digital securities in 2023.
- SBI is of the view that digital security technology will make it easier for investors to put money into nontraditional assets such as real estate, art and movie distribution rights. It intends for the exchange to become a marketplace for such assets.
- As part of the launch, the companies in March will set up an operator, the Osaka Digital Exchange (ODX). SBI will own 60% of ODX, and SMFG 40%.