Weekly Security Token Japan (Apr 6–12)

Here are some highlights from the Japanese security token / RWA market last week.

日本語版はこちら（note）。

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 Ripple Asia Completes XRPL-Based Token Issuance Platform and Registers as Prepaid Payment Instrument Issuer (April 7) SBI Ripple Asia Co., Ltd. announced that it has completed the development of a token issuance platform leveraging the XRP Ledger and has obtained registration as a third-party prepaid payment instrument issuer. By integrating with existing services via APIs, businesses can introduce token functionalities while maintaining their current customer experience. The company plans to promote compliant digital asset use cases, particularly in specific economic zones such as tourist destinations, where tokens can be utilized for payments and incentives.

Digital Asset Co-Creation Consortium Publishes Interim Report on Tokenized Equity and Legal Framework (April 7) The Digital Asset Co-Creation Consortium, led by Progmat, has released an interim report outlining “tokenized equity” and a proposed “tokenization legal framework” aimed at enabling on-chain issuance of equities and investment trusts. The report proposes linking depositary receipt (DR)-based micro-shares with on-chain trading and achieving 24/7 settlement, while also recommending the establishment of a new legal regime to recognize the legal validity of on-chain transfer of ownership rights.

JPX to Strengthen Digital Trading Infrastructure Through Startup Investments (April 8) Japan Exchange Group (JPX) announced the establishment of an approximately JPY 3 billion investment framework to accelerate collaboration with startups in areas such as digital technology and AI. Through minority investments, JPX aims to promote joint development and respond to global trends including blockchain adoption and 24/7 trading. Looking ahead, the group is also considering the use of tokenized equities and stablecoin-based settlement, with the goal of building next-generation market infrastructure such as real-time settlement systems.

If you are interested in the activities of Japan Security Token Association, please visit our website:

https://securitytoken.or.jp/english/