Mitsubishi UFJ Financial Group – Japan’s largest financial group and the fifth largest bank in the world by assets – is leading a 22-member research consortium to develop standards around security token management.
Securitize, a firm that enables the issuance and management digital securities, will be the only issuance platform provider for the consortium.
Earlier this year, Securitize launched its digital security offering service and a referral network to help companies issue and manage digital securities and registered with the SEC as a transfer agent to act as the official record keeper of securities issued on blockchain.
The Japanese financial services giant is developing a blockchain payments network with fintech company Alkami Technologies to be launched in the first half of 2020. Its blockchain trade platform with NTT Data aimed at fostering trade between Singapore and Japan is being tested now.