SMBC, Nomura to issue digital bond with new settlement scheme

They are also working on a proof of concept for settlement of securities using digital currency.

Sumitomo Mitsui Banking Corporation is in discussion with several companies, including Nomura Securities and Nomura Research, to issue a digital bond using a new settlement scheme.

The digital bond will reportedly use a delivery versus payment (DVP) settlement scheme, a first for a digital bond in Japan.

It is expected to be settled on the trade date or 1 business day after the trade date, which will make it the shortest settlement period for the new issue of a domestic corporate bond.

They are also working on a proof of concept for settlement of a security using digital currency. This will make it the first such transaction in Japan.

SMBC, Nomura Securities, and Nomura Research will work with BOOSTRY Co., Ltd and DeCurret DCP Inc. on these initiatives.

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Sumitomo Mitsui Banking Corporation

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