Securitize, a startup creating compliant digital tokens on the blockchain, acquires BUIDL to penetrate Japanese market
Securitize, a San Francisco-based platform for creating and managing digital security tokens on the blockchain, has acquired BUIDL, the Japanese consulting and development firm for blockchain technology. The acquisition will help Securitize to accelerate its expansion in the region and develop an institutional-grade security token industry.
The move follows the Japanese government’s recent decision to define security tokens as liquid securities under the newly-amended Act on Settlement of Funds and Financial Instruments and Exchange Act. It coincides with Securitize joining the newly-formed Security Token (ST) Research Consortium, led by MUFG. BUIDL was co-founded by Jun Hasegawa, CEO of blockchain-based payments company Omise. The transaction is expected to close toward the end of December pending final approval by the Japanese government. The acquisition price has not been disclosed.
Founded in late 2018, BUIDL supports several security token projects across Japan, having consistently grown its revenues and commanded a large market share since inception. The firm’s founders include venture capital firm and Securitize shareholder Global Brain as well as Jun Hasegawa, the highly-regarded entrepreneur and CEO of blockchain-based payments company Omise. The acquisition price has not been disclosed.
“By acquiring BUIDL, a proven security token leader and blockchain innovator in Japan, Securitize is immediately better positioned to help develop the institutional-grade security token industry in Japan, Asia and beyond,” said Carlos Domingo, Securitize CEO and Co-Founder.
“We are very happy to be joining Securitize as our businesses are very complementary. Together we will be able to realize the vision of modernizing capital markets with blockchain technology,” said Jun Hasegawa, founder and CEO of BUIDL.
Following the Japanese government’s recent decision to define security tokens as liquid securities under the newly-amended Act on Settlement of Funds and Financial Instruments and Exchange Act, Securitize joined the newly-formed Security Token (ST) Research Consortium, led by MUFG. The 22-member research consortium is developing standards and infrastructure that will enable automatic securities and fund settlement via blockchain technology.
“As investors in Securitize and co-founder of BUIDL, we saw tremendous potential and opportunity with merging the two companies under the Securitize brand to strengthen their position in the Japanese market,” said Yasuhiko Yurimoto, Founder and CEO of Global Brain. “This move, and the hands-on support we will continue to provide, positions us well to develop an institutional-grade, global security token industry.”
Yasuhiko Yurimoto and Jun Hasegawa will stay as directors of the board and continue supporting Securitize’s expansion in the country. The transaction is expected to close toward the end of December pending final approval by the Japanese government.
Securitize was founded in 2018 by Carlos Domingo, Jamie H. Finn, Shay Finkelstein, and Tal Elyashiv. The startup delivers trusted global solutions for creating compliant digital securities. The Securitize compliance platform and protocol provide a proven, full-stack solution for digital securities (security tokens). Securitize’s innovative DS Protocol has the highest adoption rate in the industry and enables seamless, fully-compliant trading across multiple markets simultaneously. Multiple Securitize-powered digital securities are already trading globally on public marketplaces with many more in the pipeline.