Retail investors can apply to buy the 1 billion yen bond without a securities account and receive benefits through Toyota’s payment app.
Toyota’s finance arm is launching a tokenized bond that retail investors can buy directly through the Japanese automaker’s mobile payment app, Toyota Wallet.
Toyota Finance said Applications for the one-year bonds opened Tuesday, with investments starting at 100,000 Japanese yen ($676). The new bond will be distributed directly by Toyota Finance, so investors can buy it without opening a securities account.
1 billion yen bond carries A 1.72% annual interest rate and will be operated on blockchain infrastructure provided by Japanese security-token firm Boostri.
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