Sony Bank announced on July 4 that it will handle the solicitation of “jointly managed designated money trust beneficiary rights” organized and issued by Sumitomo Mitsui Trust Bank.The jointly operated designated money trust beneficiary rights are “digital securities” (security tokens) that utilize the blockchain platform to reduce the rights displayed on securities, etc., and this is the first time that a Japanese bank has handled them.
The newly formed digital securities are jointly operated money designated trusts that are operated with senior beneficiary rights backed by Sony Bank’s investment condominium loan receivables. It is managed as an electronic record transfer right on the private blockchain platform provided by Securitize, and the property value related to its issuance is recorded through a series of electronic processes.
With this initiative, it will be possible to provide small investment opportunities for large assets that had limited investment opportunities for individuals.
｜Sentence / Editing: CoinDesk JAPAN Editorial Department
｜ Top image: From the release