MUFG, Japan’s largest bank by assets, launched on August 13 a proof-of-concept for settling Japanese government bond (JGB) repo transactions on a blockchain in real time. The project targets a market with outstanding balances of ¥270 trillion (approximately $1.7 trillion) and aims to eliminate the T+1 settlement cycle through atomic delivery-versus-payment. The proof-of-concept uses Digital Asset’s Canton Network, the Progmat platform and Secured Finance AG protocols, with commercial rollout targeted between fiscal years 2027 and 2029.
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