Tokai and iSTOX plan to tokenize Japanese real estate and list the securities on iSTOX, prior to the launch of a new security token exchange.

Tokai Tokyo Financial Holdings Inc (TYO: 8616), a Japanese financial institution with a market cap of ¥61.1 billion ($571 million), is buying a stake of 33% in blockchain firm Hash Dash Holdings. Hash Dash has developed the blockchain technology for issuance of digital securities and trading them on smartphones. (Coin Telegraph)

Hash Dash has a capital of ¥150 million ($1.4 million). Hash Dash founder Kazuto Hayashi, and ICHX TECH, the Singapore firm that does business as iSTOX, are the other equal shareholders aside from Tokai Tokyo.

iSTOX is a blockchain-based digital exchange in Singapore.

Tokai Tokyo is also a shareholder in iSTOX, having invested $5 million in November. It also invested $4.7 million in December in Huobi Japan, a licensed digital exchange.

Tokai Tokyo is also a member of the Japan Security Token Offering Association, a self-regulatory organization for STO.

Tripartite plans

Tokai Tokyo, iSTOX, and Hash Dash plan to collaborate on a new digital exchange to trade tokenized Japanese real estate. Hash Dash will provide technical expertise for the project.

Pending the development of the new exchange, the three parties will go ahead with digitizing Japanese real estate. They plan to list the tokens on iSTOX as a first step.

Once the new exchange comes up, it will interconnect with iSTOX. That will allow the digital assets to be traded seamlessly on either location.

Japanese ‘ghost’ dwellings

In March, Securitize, a blockchain compliance platform for token issuers, tied-up with LIFULL, a Tokyo-based housing, and real estate information listing service. Together, the companies will offer a crowdfunding platform that will issue digital securities in return for investments in Japanese real estate.

Securitize is backed by Sony Financial Ventures, Nomura, and MUFG.

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