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Financial Heavyweight SBI to Carry Out First STO In October 2020

By Jenny Aurora | October 12, 2020
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Japan-based financial corporation SBI Holdings is reportedly looking to operate its own STO allotting shares of SBI e-Sports – the gaming-focused branch of the firm. 

Specifically, SBI’s latest initiative to dive deeper into the security token offering sector will reportedly be carried out with the help of ibet, a blockchain platform built by digital security startup Boostry. 

With the scheduled date being the end of October this year, SBI Securities – the online securities arm of SBI will reportedly be in charge of conducting the STO, while SBI Holdings will be taking the role of an underwriter.

SBI reportedly treats STOs as a “core technology of fintech” and looks to finalize the tokenization of numerous other assets in the future, nominally real estate, fine art, and intellectual property rights including copyrights for games and movies.

A security token offering (STO) is reportedly a kind of public offering where tokenized digital offering, generally referred to as security tokens, are placed for purchasing across special exchanges. 

A security token reportedly functions as a representative for an investment contract into an underlying investment asset – like stocks, bonds, funds and real estate investment trusts.

SBI’s initiative to conduct the STO reportedly surfaced following shortly another initiative from the firm into the sector, in which it finalized the acquisition of a 10% stake of Boostry in July this year. 

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