Major Ripple Partner SBI Holdings Plans STO via DLT Platform ibet

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Fri, 10/09/2020 - 12:20
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Yuri Molchan
Ripple partner SBI Holdings intends to start working in the sphere of Security Token Offering and launch an SBI e-Sports STO to promote fintech development
Major Ripple Partner SBI Holdings Plans STO via DLT Platform ibet
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Japanese financial giant SBI Holdings has announced that it intends to initiate its first business in the sphere of Security Token Offering (STO).

About STOs

STO is a fundraising model that offers investors so-called security tokens. Those are securities emitted in digital form on the blockchain, as opposed to regular stocks or corporate bonds.

Japanese regulatory rules define STO as the "right to display securities for electronic record transfer, etc."

The company decided to enter this sort of business after revisions of several financial instruments and exchange acts last year as well as in May of this year.

SBI e-Sports to perform an STO on the ibet blockchain

The article on the SBI website features SBI Holdings and two of its subsidiaries: SBI e-Sports (launched in June this year) and SBI SECURITIES. The latter will be conducting the security token offering of SBI e-Sports on Oct. 30.

SBI Holdings will take part in the fundraising procedure as underwriter. The security token offering will take place via blockchain platform ibet, provided by BOOSTRY Co., Ltd.

SBI e-Sports deals with the management and consulting of professional e-sports teams and e-sports media.

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Previous STO done via ibet

Earlier this year, the first security token offering in Japan was conducted via the ibet blockchain platform.

It was initiated by Nomura Holdings and conducted via its subsidiary, Nomura Securities. The latter was an underwriter, and it issued the digital asset bond via ibet for NRI: Nomura Research Institute.

It is the biggest economic research and consulting firm in the country, part of the Nomura Group, with more than 13,000 employees.

Ibet is developed by BOOSTRY, which is a joint venture between NRI and Nomura Holdings.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.