Bitcoin

Japan’s Mitsubishi UFJ Trust Launches Tokenized Securities Platform for Domestic Issuers

Published

7 months ago

April 16, 2026

Mitsubishi UFJ Trust and Banking Corporation (MUTB), the trust banking arm of Japan’s largest financial group MUFG, has officially launched a comprehensive tokenized securities platform designed specifically for domestic issuers.

The new platform enables Japanese companies, real estate developers, and financial institutions to issue and manage security tokens (digital securities) on blockchain infrastructure in a fully regulated environment.

Platform Capabilities

The tokenized securities platform supports the issuance of various asset classes, including:

Tokenized real estate (real estate investment trusts and direct property tokens)
Corporate bonds and subordinated notes
Investment trusts and funds
Other structured products

Key features include:

End-to-end issuance, custody, and settlement on blockchain
Fractional ownership capabilities to broaden investor access
Compliance with Japan’s strict security token regulations under the Financial Instruments and Exchange Act
Integration with existing distribution channels, including retail platforms such as ASTOMO (launched by Mitsubishi UFJ Morgan Stanley Securities)

The platform builds on MUTB’s extensive experience as Japan’s leading provider of trust and custody services for digital assets and leverages infrastructure such as the Progmat platform, in which MUFG has a significant stake.

Strategic Importance

This launch strengthens MUFG’s leadership in Japan’s growing security token (ST) market. MUTB has already played a key role in more than half of all security token issuances in the country and is now offering a dedicated, group-wide solution for domestic issuers seeking to digitize traditional securities.

By providing a regulated, efficient tokenization platform, MUTB aims to:

Lower issuance and operational costs for issuers
Improve liquidity through fractionalization and potential secondary trading
Expand investor participation, including retail investors
Accelerate the digitization of Japan’s capital markets

Outlook

The platform is expected to see rapid adoption among Japanese corporations and real estate firms looking to tap into the benefits of blockchain while remaining fully compliant with local regulations.

This development further cements Japan’s position as one of the most advanced jurisdictions in Asia for regulated security token issuance and positions Mitsubishi UFJ Trust as a central player in the country’s tokenized securities ecosystem.

Mitsubishi UFJ Trust’s new tokenized securities platform represents a major step forward in the mainstream adoption of blockchain technology within Japan’s traditional financial sector, paving the way for broader tokenization of real-world assets in the domestic market.

Related Topics:Blockchain DAT DeFi Featured

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Bitcoin

Nakamoto Extends Kraken Loan as $165 Million Debt Tops Its Market Value

Published

27 minutes ago

November 13, 2026

Coin Reporter Correspondent

Nakamoto Extends Kraken Loan as $165 Million Debt Tops Its Market Value

Key takeaways

Nakamoto extended the maturity of 60 million USDT of its 165 million USDT Kraken loan from Dec. 4, 2026, to Dec. 4, 2027, an SEC filing shows.
The debt now exceeds the company’s stock market value of about $104 million, according to CoinDesk.
Kraken will count the net value of Nakamoto’s bitcoin derivatives, such as put options, toward collateral tests.

Bitcoin treasury company Nakamoto (NAKA) has extended the maturity of 60 million USDT of its 165 million USDT loan from Kraken by one year to Dec. 4, 2027, according to an 8-K filing. The debt now exceeds the company’s stock market value of about $104 million, CoinDesk calculated.

The second amendment to the master loan agreement was signed on Nov. 11 by Nakamoto’s subsidiary, Nakamoto Holdings, and Payward Interactive, which does business as Kraken. The remaining 105 million USDT of the loan, issued in June 2026, still matures on June 30, 2027. That leaves Nakamoto with nothing to repay this year.

The loan is denominated in USDT, the dollar-pegged stablecoin issued by Tether, and backed by Nakamoto’s bitcoin. Nakamoto shares closed Thursday at $5.79, CoinDesk reported. The company, led by founder David Bailey, acquired BTC Inc and UTXO Management in February.

“This amendment extends our runway and makes our collateral position more resilient,” Tyler Evans, Nakamoto’s chief investment officer, said in a statement. The company disclosed the amendment in an 8-K filed with the SEC on Nov. 12.

How Thin the Cushion Is

Under the new terms, Kraken will count the net value of Nakamoto’s derivatives trading account toward collateral call and liquidation tests. Kraken calculates that value daily and treats it as zero if negative. The filing says this is meant to let protective positions, such as bitcoin put options, offset falls in collateral value.

The amendment also lets Nakamoto meet collateral calls by closing derivatives positions, with the proceeds paid straight into a collateral account. In return, Kraken can require its affiliate Payward Oceanic to close out all of those positions after a default or liquidation trigger, the filing shows.

Nakamoto’s quarterly report showed 3,030 of its 4,283 bitcoin pledged to Kraken at the end of September, worth about $253 million at the time, CoinDesk reported. With bitcoin under $69,000, those coins are worth roughly $208 million, about 126% of the debt, according to CoinDesk’s calculations.

If the collateral value falls below a set maintenance level, Nakamoto must repay part of the loan, pledge more bitcoin, or both. It has about 1,253 unpledged bitcoin left, worth roughly $86 million at current prices. At quarter-end, it also held put options on 2,000 bitcoin at a $55,000 strike that expire Dec. 25.

Those puts expire well before the loan comes due. Nakamoto had also sold call options on 2,150 bitcoin at strikes between $80,000 and $110,000, and its derivatives book was worth minus $6 million at quarter-end, an amount that would have counted as zero under the new terms.

Other bitcoin treasury companies face their own tests, including Strategy and Metaplanet’s removal from MSCI indexes. Bitcoin traded at $69,163 at 07:03 UTC on Nov. 13, down 5.97% in 24 hours, according to CoinGecko.