TOKYO -- SBI Sumishin Net Bank on Wednesday became the first Japanese digital bank to go public, an indication that small online lenders now play a growing role in spreading embedded financial services, the use of stablecoins and other financial technologies.
SBI Sumishin shares closed at 1,205 yen, slightly higher than the initial public offer price of 1,200 yen, after opening at 1,222 yen on Wednesday morning. The offer price puts the value of SBI Sumishin at 180 billion yen ($1.37 billion).
