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Cryptocurrencies

Nomura and Daiwa join effort on blockchain-based fundraising

Security token offerings to debut in Japan starting next year

Blockchain is used to verify ownership of security tokens, which can be traded like stock and bonds.   © Reuters

TOKYO -- Leading Japanese brokerages will form an organization Tuesday to set rules for issuing blockchain-based digital securities that represent a new way of raising capital from assets like real estate.

Security token offerings will become a fundraising option in Japan next April following a legal change that clarifies disclosure requirements and other rules. Such offerings have already gone ahead in the U.S., Singapore and other financial technology hotbeds.

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