Osaka Digital Exchange (ODX), a proprietary trading system operator in Japan, is launching digital securities trading on December 25. Tokyo-based Ichigo plans to offer over $20 million worth of security tokens backed by real estate on the ODX platform. Another company, Kenedix, also intends to provide digital securities on ODX. Security tokens represent ownership in external assets and fall under federal regulations. While this move indicates Japan's increasing openness to digitally managed securities, the relatively modest initial offering suggests the market is cautiously exploring demand for alternative securities.