Cryptocurrency News From Japan: July 5 – July 11 in Review

Tosei real estate and Tokyo Financial Holdings issued an asset-backed digital financial product, Coinage registered with Japanese authorities as an exchange and more headlined news from Japan this past week.

This week’s headlines from Japan included real estate player Tosei and Tokyo Financial Holdings listing an asset-backed digital financial product, Cointelegraph Japan interviewing a former Japanese central bank staffer, Coinage registering as an exchange with Japan’s financial services agency, and a life insurance company testing digital asset billing transaction. 

Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.

Tosei and Tokyo Financial Holdings launch a digital securities product

Real estate outfit Tosei and Tokai Tokyo Financial Holdings, hold plans for a digital securities product. The pair “will list digital securities backed by the rental income of domestic office buildings on the Singapore exchange in August,” said a July 8 report from Japanese news outlet Nikkei. 

The financial product is the first of its kind holding domestic goods backing, the article added. 

Cointelegraph interviews digital currency study group executive

The chairman of a digital asset research entity formed by DeCurret in June 2020, Hiromi Yamaoka, recently detailed a number of topics in an interview with Cointelegraph Japan.

Holding vast previous experience working for Japan’s central bank, the study group executive detailed a number of topics. He noted fees associated with paper currency payments, a lack of data surrounding cash payments, and other points, including positing a move toward payment modernization. He also spoke positively of blockchain and distributed ledger technology. 

Coinage achieves Japanese FSA registration

Coinage received certification as a crypto exchange from the Japanese Financial Services Agency, or FSA. Offering just Bitcoin at present, the exchange now holds a first-class membership with the Japan Cryptocurrency Trading Association, or JVCEA, a step up from its previous second-class status.

Daido Life Insurance teams up with DeCurret for crypto payments

Life insurance company Daido plans to test crypto payments for premiums, working with digital asset trading platform DeCurret in the process. DeCurret received private round funding from Daido last year, according to a July 2019 statement. 

Although Daido does not expect real-world application of the model until 2023, the current test involves 100 participants and looks to improve on payment ease and efficiency.