HashPort, a Japanese blockchain application company, has announced on Friday its strategic partnership with Tokensoft to expand into the security token market in Japan.
The US-based company provides services to issuers of private or public offerings seeking to issue and manage securities on the blockchain, and provide secondary liquidity options to the investors.
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The partnership will bring security token infrastructure in the Japanese market that services enterprises, asset managers, and financial institutions.
Commenting on the partnership, HashPort founder Seihaku Yoshida said: “In the Japanese security token market, which is expected to grow rapidly in the future, The Tokensoft-HashPort Alliance will provide highly secure security token solutions optimized to Japanese laws and regulations with world-class experiences and reliability. We will make every effort to develop security token market blooming in Japan with our Partnership.”
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Tokensoft is becoming a major player in the security token market. Earlier this year, the company joined Blockchain Association, the first US-based cryptocurrency lobbying group.
The platform also partnered with companies like SEBA to facilitate tokenization services to their clients. As mentioned in the announcement, Tokensoft processed investors in over 50 countries and Tokensoft customers have raised or managed over $1 billion.
Last year, many Japanese giants also formed a self-regulatory body to oversee the growing STO market.
“The Japanese market continues to hold a high bar with respect to regulatory compliance and cybersecurity,” Mason Borda, chief executive officer at Tokensoft, added. “Our technology has brought to market the first cold storage, multi-signature solution for the administration of security tokens and continues to serve the highest value assets in the security token market. This strategic partnership brings our commitment to cybersecurity and regulatory compliance in security tokens to the Japanese market.”