SBI and SMFG will launch a blockchain stock exchange in 2022 year – Bits Media

SBI Holdings и Sumitomo Mitsui Financial Group (SMFG) will launch a digital securities exchange on the blockchain in Osaka in the spring 2022 of the year, to compete with the Tokyo Stock Exchange.

According to the publication of Nikkei, The SBI and SMFG Exchange will be the first stock exchange in Japan, which will allow investors to trade digital securities using blockchain. To prepare for launching the exchange in March, the company will create a company operator Osaka Digital Exchange (Odx). SBI will own 60% Odx, a smfg - 40%.

The exchange will use its own trading system and electronic trading platform, so that investors can conduct transactions outside the usual public exchange. Companies strive to make the exchange more attractive for investors, Accepting orders outside the working hours of the Tokyo Stock Exchange and reducing the minimum price of the price.

The exchange will start working with digital securities in 2023 year. SBI counts, that digital security technology will simplify the investment for investors in non -traditional assets, eg, the property, as well as the right to distribute works of art and films. It is assumed, that the exchange will become a market for such assets. Broker company SMFG - SMBC Nikko Securities - will send some orders of customers to a new exchange.

Stock exchanges are increasingly paying attention to blockchain. Back at the end 2017 year Australian stock exchange (ASX) reported, that the blockchain will replace its current Clearing House Electronic Subregister System (CHESS). However, in October, ASX postponed the launch of the system on the blockchain until April 2023 year due to higher platform requirements, What was supposed earlier.