SBI Sumishin Net Bank in Japan has started offering security tokens to its 7.7 million customers in partnership with Mitsui & Co Digital Asset Management’s platform, Alterna. Alterna allows customers to interact directly with the platform, bypassing brokers and other intermediaries, which reduces issuance and administrative costs. This results in lower minimum investment amounts, typically Yen 100,000 ($647), and potentially higher returns. Mitsui has announced its ninth security token, backed by a hotel building in Osaka, which was issued on the Progmat platform, co-founded by MUFG and SBI. Progmat has facilitated 27 issuances, mostly focused on real estate, totaling Yen 135 billion ($874 million) in value. The Japanese security token market has been largely driven by real estate, accounting for 25 of the 27 issuances. This innovative model, direct-to-consumer security token service, aims to revolutionize the traditional fund distribution process and provide greater access to investment opportunities for ordinary investors.
Source: https://www.ledgerinsights.com/sbis-neobank-starts-offering-mitsui-security-tokens-to-clients/