SBI and Daiwa Plan 2027 Settlement Platform to Sell Japanese Security Tokens Abroad

SBI Securities and Daiwa Securities are developing a settlement platform designed to let foreign investors purchase Japanese security tokens, with Singapore designated as the initial target market. The initiative, reported by the Nikkei, has received approval from the Japan Securities Dealers Association and is targeting a go-live no earlier than 2027. BOOSTRY, one of the two major Japanese tokenisation platforms, has been selected to underpin the infrastructure, with SBI’s rival platform Progmat passed over for this project.

Settlement for cross-border transactions will be handled in USDC, with a yen stablecoin identified as a potential future option. SBI has already issued a yen stablecoin, though it is not yet fully in circulation. The asset scope extends beyond the real estate and corporate bond categories that have dominated Japanese tokenised issuance to date, adding anime-sector investments and tokenised sake as target product lines.

Both firms are already established in Singapore. Daiwa Securities has operated there for more than five decades, moving from a joint venture with DBS to a wholly owned subsidiary. SBI’s local footprint includes SBI Digital Markets, a unit focused on tokenisation and distribution that earlier this year tokenised music intellectual property rights. If the Singapore corridor proves viable, the two firms intend to explore additional jurisdictions and consider offering Singapore-based tokenised products to Japanese retail and institutional clients in the reverse direction.