Toyota Group issues its first blockchain bond ST Bond, with a total amount of 1 billion yen

According to CoinPost, Toyota Financial Services announced on February 10th the issuance of the group's first blockchain security token bond (ST Bond), with a total amount of 1 billion yen and a term of one year. The project is jointly promoted by Toyota Finance, Toyota Financial Services, Daiwa Securities, Mitsubishi UFJ Bank, Mitsubishi UFJ Trust Bank and Progmat Corporation. This bond issue uses Progmat's digital asset management platform and is linked with the "TOYOTA Wallet" smart payment application. Investors can subscribe at 100,000 yen per share from February 20th to 27th, with an issuance date of March 3rd. Depending on the subscription amount, investors can receive TOYOTA Wallet balance rewards ranging from 1,000 to 10,000 yen. Daiwa Securities acts as underwriter and Mitsubishi UFJ Bank serves as bond manager.