Osaka Digital Exchange Launches New Security Token Trading Platform

• Osaka Digital Exchange to Launch Digital Securities Trading Platform
• ODX's Proprietary Trading System
• Issuance of Tokenized Securities
• Progmat Software Platform

Osaka Digital Exchange to Launch Digital Securities Trading Platform

The Osaka Digital Exchange (ODX) is set to launch a new digital securities trading platform on December 25. This information was made public through a recent announcement. ODX, established in 2021, is a consortium of major Japanese companies from the traditional financial sector. Key players in this formation include SBI Holdings and Sumitomo Mitsui Financial Group (SMFG). The primary objective of ODX is to establish a digital stock exchange.

ODX's Proprietary Trading System

The proprietary trading system for security tokens developed by ODX, named Start, obtained regulatory approval on November 16. This authorization was granted by the country's financial regulatory authority.

Issuance of Tokenized Securities

Around 3 billion yen (approximately $20 million) worth of tokenized securities is expected to be issued by real estate firm Ichigo Owners. This information is as per a press release by SBI Holdings. The token, known as Ichigo Residence Token, is intended to be invested in six rental residential properties. These locations have been selected for their convenience and excellent access to the city center. This issuance is anticipated to have the highest issue price for any security token ever issued by the Ichigo Group.

Progmat Software Platform

The token will be issued on Progmat, a software platform dedicated to issuing and managing digital assets. Firms such as Binance envisage utilizing this platform for issuing stablecoins within the country.

Edited by Jonathan Stoker