Toyota Finance launches ¥1 billion tokenized bond via Toyota Wallet

Toyota Finance has opened applications for a ¥1 billion ($6.76 million) tokenized bond that pays 1.72% annually and can be bought through Toyota Wallet without opening a securities account. Summary Toyota Finance has opened applications for a ¥1 billion tokenized bond through Toyota Wallet. Retail investors can participate from ¥100,000 without opening a securities account. The one year bond pays 1.72% annually and uses BOOSTRY’s blockchain infrastructure. Investors may receive Toyota Wallet balances and benefits including Fuji Speedway tickets and vehicle test drives. Toyota Financial Services, Toyota Finance, SMBC Group and BOOSTRY said Tuesday that the one year public security token bond will be issued through a self offering by Toyota Finance, the first such security token bond structure used by the Toyota Group. Applications start at ¥100,000 and opened Tuesday through a dedicated page on Toyota Finance’s website. The bond, formally called the Toyota Finance Second Security Token Bond and branded as the “TOYOTA Wallet Tsumugu Bond,” will be managed using blockchain infrastructure provided by Japanese security token company BOOSTRY. By distributing the security directly, Toyota...