The expansion of "self-offering ST," which allows companies to raise funds directly without intermediaries like securities firms, positions Japan as a global leader in this sector. Beyond fundraising, the direct relationship with investors and marketing utilization are gaining attention as new value propositions.
The transition to public chains and the introduction of overseas tokenization funds are shifting the market from a closed financial system to an open one. Tokenization of equities, in particular, is anticipated as the next growth area.
By reducing intermediaries, transaction costs are decreasing, enabling fractionalization and real-time trading. Financial products previously reserved for professionals are now accessible to individuals, ultimately leading to a new financial market where all assets are on-chain.
──What was Securitize Japan's most significant achievement in 2025?
Eiji Kobayashi (hereafter, Kobayashi): Four years ago, Marui conducted Japan's first self-offering ST project on our platform, and last year saw further expansion. Self-offering allows issuers to sell directly to investors without going through securities firms, leveraging the strengths of digital securities (security tokens). This direct connection with investors can be utilized not only for fundraising but also for marketing strategies.
In addition to Marui, which has already executed four projects, PPIH (the parent company of "Don Quijote") and Credit Saison have adopted this approach. Japan can be said to be leading the world in this field.
──Are there any challenges with self-offering projects?
Kobayashi: While it is an excellent fundraising method, realizing the marketing impact may require new ideas. However, the fact that issuers with innovative approaches are emerging and experiencing the benefits is driving its adoption.