Diversification of Real Estate Security Tokens Advances - Starts, Mizuho Securities, and Securitize Issue at 10,000 yen per unit | CoinDesk JAPAN

A real estate security Token with a price of 10,000 yen per share is coming.

Starts Corporation (hereinafter referred to as Starts Group), Mizuho Securities, and Securitize Japan announced on May 12 that they will collaborate on the public offering and issuance of real estate security Tokens (ST or digital securities). The foundation will utilize the system "Securitize Platform" (Securitize PF) developed by Securitize, which employs decentralized ledger technology.

According to insiders, this marks the first case of a trust company handling a publicly offered real estate security Token. It is also the first time Mizuho Securities is dealing with publicly offered real estate security Tokens.

According to the release, "Starts Asset Token - Ryogoku, Chidoricho - (with transfer restrictions)" is a real estate security token that targets two properties classified as "welfare contribution buildings" with operational performance as a complex facility of licensed childcare centers and joint housing, formed jointly by the Tokyo Metropolitan Government and the Starts Group in the "Public-Private Partnership Welfare Contribution Infrastructure Fund." Starts Trust will manage the information necessary for the recording and transfer of the property value related to this ST, including secret keys, using Securitize PF.

〈Image of the scheme: From the release〉The Starts Group is widely engaged in various businesses, primarily focusing on construction and real estate, positioning itself as a comprehensive lifestyle and cultural company. It has worked on various real estate securitization projects and has Starts Asset Management, Starts Trust, and Starts Securities within the group. This real estate ST is a collaborative effort by the group companies.

The overview of the product is as follows.

| | | | --- | --- | | Name | Starts Asset Token - Ryogoku, Chidoricho - (with transfer restrictions) | | Investment Target Real Estate (Appraised Value) | Proceed Ryogoku 2 (1,200 million yen) / Proceed Chidoricho (606 million yen): As of the end of March 2025 | | Total Issuance | 828 million yen | | issuance | 82,800 | | Issuance Price | 10,000 yen per unit | | Application Unit | 1 unit per 10 or more units | | Type of Securities Offered | Security Token representing the beneficial rights of a trust issuing beneficial securities | | Duration | Approximately 4 years and 8 months (Scheduled for redemption in January 2030) |

The Japanese real estate security Token market is expected to see significant growth this year. Recently, there has also been diversification of schemes, such as Credit Saison issuing the first real estate ST through self-offering as a credit card company.

▶Related articles: The first real estate ST issuance by a credit card company, "Saison's Smart Real Estate Investment"

"Starts Asset Token - Ryogoku, Chidorimachi - (with Transfer Restrictions)" is issued by a trust company rather than a trust bank, further advancing the diversification of the scheme.

The tokenization of real-world assets (RWA) including real estate security tokens has become a significant trend globally. It can also play a major role in the widespread adoption of stablecoins, which were made available in Japan at the end of March.

▶Related Articles: The Two "S"s Paving the Future──Winning the Global "RWA Tokenization" Competition with Stablecoins × Security Tokens 【Column】

Mr. Haruo Kato, a partner lawyer at TMI General Legal Practice, who is well-versed in digital assets, posted on X, "The project for the issuance of beneficiary securities trust-type real estate security Token by the Starts Group (Starts Trust, Starts Asset Management, Starts Securities), which we have supported for quite a long time, has finally been released!"

"I hope that many more trust companies will enter the field of security tokens from now on!"

In the fiscal year 2024, the issuance amount did not increase due to the impact of tax system reforms, but in the fiscal year 2025, with a clearer outlook on discussions regarding tax system reforms, an expansion of the issuance amount and a widening of underlying assets are expected.

▶ The "Overview Report on Japan's Security Token Market (Fiscal Year 2024)" published by BOOSTRY

| Author: Takayuki Masuda | Image: From the release