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