Six major Japanese Brokerage Firms Establish Japan Security Token Offering Association

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Yuko Seimei, president of Tokyo’s securities giant Monex Inc. has announced that,  together with five other securities companies, the Japan Security Token Offering Association (JSTOA) has been formed. Seemingly a competitor to Japan Security Token Association (JSTA). 

The five other companies include SBI Securities Co. Ltd., kabu.com Securities Co. Ltd., Daiwa Securities Co. Ltd., Nomura Securities Co. Ltd., and Rakuten Securities, Inc., and the JSTOA will be chaired by Yoshitaka Kitao effective, October 1, 2019.

The JSTOA will focus on self-regulation regarding security token offerings (STOs), with the aim of the healthy development of an STO fund-raising model. Similar to the role Japan Securities Dealers Association (JSDA) self governs the Japanese securities industry, FINRA plays in the USA for securities or FINMA in Switzerland, but the JSTOA will focus on tokenomics. 

From the press release:

“Unlike initial coin offerings (ICOs), which have experienced some fraudulent cases, issuance and trading of security tokens are legally recognized and prescribed. STOs have been gaining popularity in the U.S. and other countries as a new methodology of financing. Japan is also following the trend and is ensuring that sufficient conditions are in place for STOs to become widely used. For example, in May 2019, “Amendments to the Payment Services Act, etc. in response to the diversification of financial transactions associated with the development of information communication technology” was enacted in which “Rights to Transfer Electronically-Recorded Claims” is prescribed.”

The JSTOA plans to consolidate expertise from Japanese securities companies and other entities so that the STO business opportunities can be further explored and developed in Japan. The association is planning to obtain certification as an Authorized Financial Instruments Firms Association based on the Financial Instruments and Exchange Act and to fully leverage its capabilities as a self-regulatory organization.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ citiies. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe.  In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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