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Nomura, 5 other brokerages launch security token offering organization

Six major Japanese brokerages, including Nomura Securities Co. Ltd., launched a self-regulatory organization for security token offerings, blockchain-based digital securities that will be a new way of raising funds, according to an Oct. 1 release.

The other brokerages are SBI Securities Co. Ltd., Daiwa Securities Group Inc., kabu.com Securities Co. Ltd., Rakuten Securities Inc. and Monex Group Inc. The companies are teaming up to form the Nihon STO Kyokai, according to a Japanese-language release from SBI Holdings Inc., the parent of SBI Securities.

Security token offerings are to become a fundraising option in Japan from April 2020. They are already available in the U.S., Singapore and other markets. The new organization aims to boost the security of the new digital financing method. It plans to obtain certification as an authorized financial instruments firms association based on Japan's Financial Instruments and Exchange Act.