Toyota Finance opens tokenized bonds to retail investors via mobile payment app

Retail investors can apply to buy the 1 billion yen bond without a securities account and receive perks through Toyota’s payment app.

Toyota’s finance arm is launching a tokenized bond that retail investors can buy directly through the Japanese carmaker’s mobile payment app, Toyota Wallet.

Toyota Finance said Tuesday that applications have opened for the one-year bond, with investments starting at 100,000 Japanese yen ($676). The new bond will be distributed directly by Toyota Finance, allowing investors to buy it without opening a securities account.

The 1 billion yen bond carries a 1.72% annual interest rate and will be managed on blockchain infrastructure provided by Japanese security-token firm BOOSTRY.

Read more

Source: https://cointelegraph.com/news/toyota-finance-tokenized-bond-offering-mobile-payment?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound