Sony Bank to Offer Subscription for U.S. Dollar Tokenized Securities on July 29

Sony Bank is set to issue U.S. dollar-denominated tokenized securities and open subscriptions on July 29, with proceeds to be invested in a music copyright portfolio. According to Foresight News, the portfolio was established jointly by Singapore sovereign wealth fund GIC and Sony Music Group, with Sony Bank participating. The portfolio generates returns by collecting copyright revenue from music used across streaming, radio, film and television, and advertising. The securities will be issued by Sumitomo Mitsui Trust Bank, while Sony Bank will handle sales. The underlying asset management will use private blockchain infrastructure provided by Securitize Japan.