Six Japanese brokerage firms form the “Japanese Security Token Offering” Association.

Six major Japanese brokerage firms have come together to create the Japanese Security Token Association stated in a blog post that was published on October 1st.

According to the post, Nomura Securities, Monex Inc, SBI Securities, Rakuten Securities, Securities, and Daiwa Securities are the members that formed the STO Association.

The new association which has its headquarter located in Tokyo intends to assist STO fundraising through protecting investors, ensuring compliance with the law and consolidating expertise in the industry.

The blog mentioned that STO differs from ICO saying “Unlike initial coin offerings (“ICO”), which has experienced some fraudulent cases, issuance and trading of security tokens are legally recognized and prescribed“, adding that “STOs have been gaining popularity in the U.S. and other countries as a new methodology of financing”.

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