Nine Japanese firms complete stablecoin tokenized securities settlement test

Nine Japanese companies, including SBI Securities, Daiwa Securities and Sumitomo Mitsui Banking Corp., have completed a proof-of-concept test for simultaneous settlement of tokenized securities using a stablecoin, CoinPost reported. The test used a stablecoin issued by Sumitomo Mitsui Banking Corp. as the settlement instrument, and participants confirmed a certain level of legal, technical and operational feasibility for a delivery-versus-payment model that processes tokenized securities delivery and payment at the same time. The companies plan to review related infrastructure and operating systems with future commercialization in mind.