Japanese bank Sumitomo Mitsui launches the country's first 'a-1' rated security token
Cointelegraph
Published Mar 29, 2021 11:52PM ET
Updated Mar 30, 2021 01:40AM ET
Japan-based bank Sumitomo Mitsui (NYSE:SMFG) Trust Bank, or SMTB, has launched its first asset-backed securities token in partnership with Securitize on March 29.
The instrument is the first security token compliant with the Financial Instruments and Exchange Act (FIEA) to launch in the Japanese Market. The token has received an “a-1 rating” from Japanese rating agency, Rating and Investment Information, Inc, suggesting the product is very likely to fulfill its short-term obligations.
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Written By: Cointelegraph
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