Osaka Digital Exchange has unveiled START, its proprietary trading system for security tokens. The exchange confirmed the development in its Monday press statement. According to the announcement, START will commence operation on December 25, 2023.
With the launch of START, Osaka Digital Exchange has now become the first exchange to trade digital securities in Japan. As part of the preparation, a Japanese real estate firm, Ichigo Inc., will sell part of its securities backed by property investments. According to reports, the securities are worth about $20.1 million.
Notably, the $20.1 million (3 billion yen) set aside by Ichigo is to foster the practical application of digital securities within the real estate sector. This also outlines the importance of blockchain technology in enhancing liquidity and accessibility for investors.
Worth noting that Osaka Digital Exchange consists of key players in the Japanese traditional finance. Some of these important figures include SBI Holdings and Sumitomo Mitsui Financial Group (SMFG). In addition, the proprietary trading system, START is specifically designed for security tokens. Meanwhile, this strategic effort is in line with the growing demand for the incorporation of blockchain and tokenization technology into the traditional financial system.
Furthermore, the launch of START also places Osaka Digital Exchange at the forefront of Japan’s financial transformation. It also offer opportunities for investment diversification and addresses difficulties caused by ageing population.
Worthy of note that this development comes less than a week after the exchange obtained regulatory approval from Japan’s financial regulator. This regulatory approval created the opportunity for Osaka to revolutionize the country’s financial landscape.
Investments In Osaka Digital Exchange
In September, three notable firms, Cboe Worldwide Holding, Virtu Investment LLC and Optiver PSI BV invested in Osaka Digital Exchange. As revealed, Choe is a leading exchange which provides financial market infrastructure in the USA. The firm also renders outstanding services such as trading, clearing, and investment solutions to market participants.
Similarly, Virtu is a global multi-asset financial service provider. The firm offers innovative and transparent products. Optiver, on the other hand, is also a renowned global market maker. The firm provides liquidity on different products and helps to foster a healthy and efficient market.
The three investors are not only known in the traditional financial market, but they are also known for their role in the development of security tokens. Through the investment, Osaka Digital Exchange has been developing innovative solutions to change the status quo in the financial market.