Who wants to eat food when you can simply trade with it. Japan’s biggest brokerage firm Nomura is now offering a high-end food subscription for tradable crypto tokens.

Customers of Nomura, an affiliate of Japan-based Nomura Holdings, can use security tokens to buy and trade dishes as their value fluctuates, Bloomberg reported.

As part of the subscription to a luxury Italian food delivery service, customers can buy tokens for four parcels a year from Masayuki Okuda, an award-winning Japanese chef famous for his love of local produce like olive-fed beef and zusayama chicory.

The menu for the delivery parcel includes corn and chicken tortellini, asparagus pizza and pumpkin ravioli, according to the website for the food delivery service. Customers will be able to trade these dishes according to the fluctuating value of their security tokens, according to the report.

The service starts next year and would cost 60,000 yen or $546 per year. This charge does not include the 3,000 yen membership fee. Chef Okuda has cooked for dignitaries around the globe and has two restaurants in Tokyo, which specialise in using traditional ingredients from the Yamagata prefecture.

Security tokens

Nomura said it wants to grow the digital asset market and is now offering security tokens for assets like corporate bonds and real estate in Japan.

Security tokens can be any kind of tradable asset, like stocks, bonds, mutual funds, etc and can provide dividends in multiple forms.

But to make a security token tradable, first its value must be determined. The entire system of security tokens is in the nascent stage and there is a lack of consistency in the valuation process. Globally, every crypto trader has their own set of rules to come up with the valuation, and this presents a challenge for universal acceptance.

Since a security token is the combination of an actual asset and cryptocurrency, both these attributes must be taken into consideration for determining the value of the asset.

(Edited by : Shoma Bhattacharjee)

First Published:Aug 27, 2021 6:49 PM IST