- NICMR announced the establishment of a dedicated research group1 on the use of blockchain technology in financial markets
- The research group, which comprises experts from industry, government, and academia, concluded its research
- The report points out that as a new funding tool security token offerings (STO)2 could appeal to a wide range of investors
- Household financial assets are on the decline due to Japan’s falling birthrate and aging population
- According to the report, STOs allow companies to raise capital from a new class of investors leading to the expansion of the capital markets
- NICMR believes that STOs and the development of secondary markets will contribute to the growth of Japan’s capital markets
