SBI Holdings announces that it will launch a security token offering (STO) for its digital sports subsidiary, SBI e-Sports Co., and that it is contemplating STOs for additional asset classes in the future.
On Friday, Japan-based SBI Holdings released a press statement saying that SBI e-Sports “will implement a third-party allotment of shares using STO with the Company (SBI Holdings) as underwriter.”
An STO is similar to an initial coin offering (ICO) where investors receive crypto tokens in exchange for their investments. What makes STOs unique is that investors get tokens that are backed by real assets such as stocks, real estate, bonds, and even fine art.
SBI e-Sports highlights that it will use the platform ibet, which is developed by Japanese blockchain company BOOSTRY, to host SBI’s digital securities offering.
According to the press release, the STO will be held on October 30th with SBI e-Sports planning to issue 1,000 shares.
Looking ahead, SBI notes that it may also offer STOs for assets such as “real estate, fine arts, and intellectual property rights such as copyrights for games and movies.”
In addition, the company claims that it sees a bright future for the tokenization of securities. SBI believes that “blockchain technology such as STO [is] the core technology of fintech.”