Proprietary trading system operator Osaka Digital Exchange (ODX) is set to kickstart the trading of digital securities in Japan through security tokens issued by two real-estate firms to fill the demand for alternative assets.
In an announcement, ODX said that its trading system for security tokens commences on Dec. 25. Ichigo, a Tokyo-based company, is reportedly planning to sell over $20 million in securities backed by property investments. Apart from Ichigo, Kenedix is also planning to offer digital securities within the ODX platform.
Security tokens are digital assets that usually represent a stake in an external enterprise or asset. A digital token is categorized as a security token when it’s subjected to regulations under federal law, and its value is derived from external tradable assets.
Starting the trading of security tokens on an exchange could increase its liquidity and make it easier for individuals to invest. However, while the new developments show that Japan is warming up to the idea of trading digitally managed securities, the number of securities offered being only $20 million shows that the market is still testing the waters and is weighing up whether there will be a demand for such alternative forms of securities.
Digital asset adoption in Japan has seen several significant developments in the past few months. On Sept. 15, a Japanese financial news site reported that the Japanese government plans to allow startups to raise funds by issuing cryptocurrencies instead of stocks. On Oct. 12, electronic payments company DeCurrent Holdings revealed a white paper on a stablecoin project backed by the Japanese yen. According to the firm, the coin will be launched in 2024.
Reform UK now has more members than the Conservative Party and is “the real opposition” according to Nigel Farage, while Kemi Badenoch has called his numbers “fake”.
According to a digital counter on the party’s website, Reform UK had gone past 131,690 members – the amount the Conservative Party declared before its leadership election in the autumn – just before midday on Boxing Day.
Mr Farage, party leader and MP for Clacton-on-Sea, hailed the “historic moment” and said on X: “The youngest political party in British politics has just overtaken the oldest political party in the world. Reform UK are now the real opposition.”
But Conservative leader Kemi Badenoch accused the party of issuing misleading figures: “Manipulating your own supporters at Xmas eh, Nigel?. It’s not real. It’s a fake… [the website has been] coded to tick up automatically.”
Posting on X, she added that the Tories had “gained thousands of new members since the leadership election”.
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Reform UK also shared a video of the membership tracker being projected on to the Conservative Party headquarters in London overnight.
Zia Yusuf, party chairman, also said “history has been made today” and that the Tories’ “centuries-long stranglehold on the centre-right of British politics” has “finally been broken”.
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Mr Farage hit back at Ms Badenoch, who strongly contested Reform UK’s figures. He claimed to have proof and posted a screenshot of an online register reportedly showing ‘active memberships’.
“We understand you are bitter, upset and angry that we are now the second biggest party in British politics, and that the Conservative brand is dying under your leadership. However, this not an excuse to accuse us of committing fraud,” he wrote on X.
Mr Yusuf added to the debate by appearing to goad Ms Badenoch about an audit: “We will gladly invite a Big 4 audit firm to verify our membership numbers on the basis that you do the same.”
The Conservative party membership figure – shared after Kemi Badenoch was announced as the new leader on 2 November – was the lowest on record and a drop from the 2022 leadership contest, when there were around 172,000 members.
In response, a Conservative Party spokesman said: “Reform has delivered a Labour Government that has cruelly cut winter fuel payments for 10 million pensioners, put the future of family farming and food security at risk, and launched a devastating raid on jobs which will leave working people paying the price.
“A vote for Reform this coming May is a vote for a Labour council – only the Conservatives can stop this.”
According to research from the House of Commons Library, there is no uniformly recognised definition of party membership and no established method or body to monitor the number of members each political group has.
Reform UK was also originally set up as a limited company, but Mr Farage said he would change the party’s structure to be member-owned in September.