Japan is set to launch a digital stock exchange by 2022, media reports said. SBI Holdings has reportedly partnered with Sumitomo Mitsui Financial Group (SMFG) to launch the country’s first digital stock exchange. In the month of March, both parties will set up an operator called the Osaka Digital Exchange (ODX), where SBI Holdings will own 60 percent and SMFG will own the remaining 40 percent. Now, investors in Japan will be able to trade in digital securities using blockchain technology.
The digital stock exchange, to be launched in Japan, is expected to start handling digital securities in 2023. Japan gave the greenlight to digital securities last year, making it possible for brokers to offer securities faster and in smaller units. Since both SBI and SMFG have brokerage units, they are expected to put up a governance structure in place to prevent any conflict of interest.
Global crypto exchange platform Bitterz launched in Japan last year and is offering $50 worth of bitcoins to all customers who open a new account. The crypto exchange earlier said that it will start providing its services to customers in China, Hong Kong, Taiwan and also Korea.
Bitterz in Japan offers a highly secure trading environment along with 24-hour monitoring for dealing and security; provides a cold wallet to protect customers’ holdings, and a two-step authentication system to prevent unauthorised logins. It also doesn’t charge for transfers and withdrawals. Bitterz, which was created with the aim of making cryptocurrencies a universal instrument for forex trading, is a Crypto CFD trading platform.