Japan's SBI and SMFG to set up digitalized securities exchange

Osaka platform to use blockchain technology as alternative to TSE

SBI and SMFG have designs on making their bourse a marketplace for nontraditional assets such as real estate, art and movie distribution rights. (Source photos by Reuters)

Nikkei staff writers

January 28, 2021 18:01 JST

TOKYO -- SBI Holdings and Sumitomo Mitsui Financial Group will launch a digitalized stock exchange in Osaka in the spring of 2022 to compete against the Tokyo Stock Exchange, Nikkei has learned.

The move comes amid growing calls for alternatives to the TSE, which in the fall suffered a computer glitch that halted trading for a day.