Japanese financial services Behemoth SBI Holdings announced its intention to enter the security token offering (STO) space.
According to an Oct. 9 announcement, SBI plans to initiate its first security token offering on behalf of one of its subsidiaries.
The tokenized share offerings will be conducted by the firm’s subsidiary SBI securities on behalf of SBI e-sports — another subsidiary launched in June. The offering will take place on Oct. 30.
SBI e-sports is specialized in the management and consulting of professional competitive videogame teams and media—the fastest growing sports industry. SBI Holdings will take part in the fundraising as an underwriter. The company seeks to raise almost $475,000 through the offering.
The offering will take place via the blockchain platform Ibet, managed by local firm Boostry. The same blockchain platform was used for Japan’s first blockchain bond offering in March.
Security tokens are not just for selling shares, although they can be used that way. STOs can be used to sell fractional ownership in everything from art and real estate to music rights.
Last year, more than 80% of the 1,000 investors surveyed by social trading and brokerage company eToro said they would be interested in owning blockchain-based security tokens in small businesses and real estate, and 70% would be interested in music rights.
The idea is to allow small investors to put money into investments they would not normally have access to. On the real estate front, one of the first tokenized assets was the St. Regis Aspen hotel, in 2018.
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June 23, 2020 -
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