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MUFG has several other blockchain projects in its innovation pipeline.

Earlier this year, Securitize launched its digital security offering service and a referral network to help companies issue and manage digital securities and registered with the SEC as a transfer agent to act as the official record keeper of securities issued on blockchain. The company raised a $14 million funding round backed by MUFG Innovation Partners, Nomura Holdings and Santander InnoVentures. The Japanese financial services giant is developing a blockchain payments network with fintech company Alkami Technologies to be launched in the first half of 2020. Its blockchain trade platform with NTT Data aimed at fostering trade between Singapore and Japan is being tested now, while the company is also participating in a blockchain proof-of-concept to streamline know-your-customer processes with HSBC Singapore, OCBC Bank and the Info-communications Media Development Authority, a Singapore regulator. UPDATE (6, Nov. 00:58 UTC): A previous version of this story incorrectly stated that Securitize was the only company issuing security tokens in the consortium. Securitize is the only issuance platform provider that has joined the consortium.