DeFi· ★★★· bullish·

SBI Securities and 8 firms complete stablecoin DvP test for security tokens

  • —Participants included SBI Securities, Daiwa Securities, Sumitomo Mitsui Banking, SBI VC Trade and Osaka Digital Exchange
  • —Two transfers of a privately placed ST bond between SBI and Daiwa were settled in SMBC-issued stablecoin
  • —Target is T+2 DvP settlement between brokers within a few years
  • —Remaining issues include stable operation within settlement deadlines and upgrading business applications
Why it matters: A successful stablecoin DvP test brings Japan closer to legal secondary trading of tokenized securities.
Source: CoinPost
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