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Mitsubishi UFJ Trust & Banking confirmed acquisition of a ¥100 billion (US $681 million) skyscraper in central Osaka, saying the 40‑storey landmark will be turned into digital securities on its Progmat blockchain within months. Retail buyers will be able to purchase small token slices, while life‑insurers are expected to take larger blocks through a private REIT structure.
Bank officials told Japanese media that token sales could start “as early as this fiscal year,” with minimum tickets of a few thousand yen. A local report further outlined plans to list the tokens on Osaka Digital Exchange’s START market, which currently records only six real‑estate tokens and monthly turnover of about ¥23 million. The dual path—tokens for individuals, trust units for institutions—mirrors MUFG’s pilot in Tokyo last year.
Progmat, spun out by MUFG yet still 42 %‑owned by the group, has already powered more than 60 Japanese security‑token issues since 2021. Analysts note that roughly 80 % of those deals were backed by property, underscoring Japan’s tilt to real‑estate tokenization even as Europe focuses on digital bonds. MUFG’s move therefore cements its rivalry with former client Mitsui Digital Asset Management, which now runs its own Alterna Trust but still uses Progmat for issuance.
“Tokenization could help build trillions of dollars of economic activity for the real‑estate sector over the next decade, by letting far more people invest in small fractions of big buildings,” wrote John D’Angelo, Real‑Estate Solutions Leader at Deloitte Center for Financial Services, in an April forecast. His outlook suggests initiatives like MUFG’s may scale quickly as secondary trading grows.
For now, the Osaka tower is the largest single asset yet slated for Japanese digital securities, dwarfing earlier ¥3 billion offerings. If the launch succeeds, brokers expect similar high‑rise deals in Tokyo and Fukuoka, and fresh regulatory interest from the Financial Services Agency as Japan races to keep its first‑mover edge in Asia’s real‑world‑asset boom.
