Weekly Security Token Japan (Mar 30 — Apr 5)
Here are some highlights from the Japanese security token / RWA market last week.
Weekly Security Token Japan (Mar 30 — Apr 5)

Here are some highlights from the Japanese security token / RWA market last week.
As Founder & Chairman of Japan Security Token Association, I lead a collaborative community dedicated to advancing the business adoption of security tokens and, more broadly, Real World Assets (RWA) in Japan.
In Japan, regulatory clarity emerged early, enabling the launch of numerous projects issuing tokens backed not only by traditional assets like real estate and corporate bonds, but also by a wide range of alternative assets. As a result, Japan is increasingly playing a leading role globally in this space. This blog “Weekly Security Token Japan” would provide a concise weekly digest highlighting key news from the previous week.
SBI to Form Capital and Business Alliance in Athlete IP (March 30) SBI Holdings announced that it has signed a memorandum of understanding for a capital and business alliance with Second Career, with plans to acquire approximately a 20% stake and make it an equity-method affiliate. By partnering with Second Career, which focuses on athlete management and IP value creation, SBI aims to expand its entertainment business by leveraging its financial infrastructure and global network. Key initiatives include supporting the overseas expansion of athlete IP, diversifying fundraising methods through STOs, and providing asset-building support for athletes from their active careers through retirement. SBI positions the sports domain as a key component of the token economy in the Web3 era and aims to build a new economic ecosystem that integrates IP and finance.
Tokyu Stay Expands NFT-Based Accommodation Rights Resale Nationwide (March 31) Tokyu Stay has expanded its resale service — allowing accommodation rights to be tokenized as NFTs and traded between users — across its nationwide facilities. While traditional OTA channels often involve payment delays of up to around 60 days, this system enables hotels to receive funds at the time of booking, improving cash flow. Designed to address industry challenges such as last-minute cancellations and high cancellation rates, the platform allows users to set listing prices, enabling market-driven price discovery based on supply and demand. Built on an EVM-compatible blockchain, the service removes Web3 complexity from the user interface and automatically assigns wallets to approximately 300,000 members, lowering barriers to adoption. Although usage remains limited at present, its nationwide rollout and potential expansion to other hotel operators could reshape the accommodation booking model.
Real Estate Security Token Issuance Completed for Toyoko INN Nagoya (March 31) Toyoko Inn, Mitsui & Co. Digital Asset Management, and Mitsubishi UFJ Trust and Banking have completed the offering and issuance of a real estate security token backed by “Toyoko INN Nagoya Meieki Minami.” Utilizing a beneficiary certificate issuing trust structure, the approximately JPY 2.5 billion offering was made available to retail investors with a minimum investment of JPY 100,000. In addition to financial returns, investors receive accommodation benefits usable across Toyoko INN properties, linking investment with customer experience. Mitsui & Co. Digital Asset Management designed the product, Mitsubishi UFJ Trust and Banking acted as trustee, and the tokens were issued on the Progmat ST platform. The project demonstrates a model that combines real estate financing with fan engagement, signaling continued growth in Japan’s digital securities market.
Mitsui & Co. Digital AM Partners with IBJ on “Marriage × Investment” (April 1) Mitsui & Co. Digital Asset Management announced a business alliance with IBJ to offer its digital securities investment service “ALTERNA” to IBJ members. The initiative provides access to digital securities backed by large-scale real estate and infrastructure, targeting individuals during and after the matchmaking process, and linking life events with asset formation. It aims to address long-term wealth-building needs at key life milestones such as marriage, emphasizing ease of use through a fully online experience and relatively stable return characteristics. By integrating finance with life design, the partnership seeks to expand customer touchpoints and broaden participation in the retail alternative investment market.
GMO Aozora Net Bank to Pilot Interbank Settlement Using Tokenized Deposits (April 3) Japan’s Financial Services Agency announced its support for a proof-of-concept project led by GMO Aozora Net Bank to test interbank settlement using tokenized deposits. The experiment will compare two approaches: one based on interbank balance adjustments and another utilizing stablecoins, aiming to enable settlement across different banks. Conducted under the FinTech Proof-of-Concept Hub framework, the initiative will also examine legal and regulatory challenges in collaboration with both public and private sectors. Tokenized deposits are expected to enable low-cost, real-time transfers and may serve as a settlement layer for digital securities. As multiple banks, including megabanks, explore issuance, this project represents a key step toward practical implementation.
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