Japan’s Biggest Brokerage Offers Corn and Other Dishes for Crypto Tokens

An affiliate of Japan’s biggest brokerage Nomura Holdings Inc. has started offering subscriptions to a luxurious Italian food delivery service. As per this, customers can use the tradeable crypto tokens to buy and trade dishes as their value fluctuates.

The firm started selling the security tokens this week for four high-end food parcels a year from award-winning Japanese chef Masayuki Okuda. An annual subscription costs ¥60,000 ($546), in addition to an initial ¥3,000 membership purchase.

Delivery options include corn, pumpkin ravioli, asparagus pizza, and chicken tortellini, according to the website. Token holders will be able to trade them next year under current plans.

Nomura expects the industry of security tokens, which give investors the rights of underlying assets, to grow, which is still nascent in Japan.

For this, it is expanding the ibet platform to include security tokens for assets like real estate and corporate bonds.

Besides helping grow the digital asset market, the brokerage aims to create business for local agricultural and fishery products, a spokesman told Bloomberg.

Back in 2018, Nomura became the first crypto custodian bank forming partnerships with companies in the cryptocurrencies sector. Earlier this month, as we reported, Japan’s Financial Services Agency Commissioner said they “need to consider carefully whether it is necessary to make it easier for the general public to invest in crypto assets.”

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