Sony Bank today announced a partnership with Sumitomo Mitsui Trust Bank (SuMi TRUST) to offer digital securities to Sony Bank’s retail customers. Together they are creating a joint trust to manage condo loan receivables held by Sony Bank, which are being tokenized. The digital securities will be issued on the permissioned blockchain platform operated by Securitize Japan.

Sony Financial Ventures invested in Securitize Series A and SuMi TRUST invested in Series B. SuMi TRUST previously issued a security token on the platform.

“Security tokens are a revolutionary solution that expands the range of investment possibilities for our clients,” said Naofumi Watanabe, Managing Executive Director of Sony Bank, Sony Bank. “Sony Bank will add Security Token Application to its product line and aspire to be a bank that offers best value to customers as an asset management bank for individuals.”

Last month, Sony Bank also partnered with Mitsui & Co Digital Asset Management (Mitsui) to offer digital securities to its Japanese customers. Mitsui recently launched Alterna, a digital securities offering that tokenizes real estate assets and targets retail clients directly. While offered to Sony Bank customers, users transact directly with Mitsui, cutting out the middlemen from an administrative perspective.

However, after much fanfare, Mitsui recently announced Alterna’s first closing of $1.5 billion ($10 million) in yen after nearly a month of sales.