Japanese financial giant SBI Holdings has announced plans to launch blockchain technology-powered digital stock exchanges.
Per Nikkei, the plan is the brainchild of SBI’s chief executive Yoshitaka Kitao. The CEO is also the head of Japan’s largest and fastest growing securities token offering (STO) body and is a member of the Ripple plate.
The exchanges, Kitao said, would be located in two new ‘smart city’ fintech hubs being built in Kobe, Hyogo Prefecture and Osaka – Japan’s second largest city.
Kitao added that the new developments would create two new international financial centers that would become “hubs of next-generation financing”.
He added that the new developments would also see a “digital exchange based on blockchain (distributed ledger) technology” launched on the sites, and spoke of plans to “attract fintech companies” to the new smart cities.
Longtime crypto champion and XRP advocate, Kitao has recently been pursuing securities token-related business models and hopes to launch a multi-company securities trading platform by the end of 2020. The platform would likely allow traders to trade tokenized. offers from smaller companies that are not yet to be made public.
The head of the SBI stated that he had been working on the plan with local authorities in Osaka prefecture and urged haste, suggesting that the move could be Japan’s ‘last chance’ to establish itself as a financial center for the Asia-Pacific region.
SBI operates two subsidiaries of crypto companies, crypto exchange SBI VC Trade and SBI Crypto, a cryptoasset mining company.
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