MUFG Trust, MUFG partners with Digital Asset, Progmat on Canton Network JGB repo tokenization pilot
MUFG•Japan repo tokenization pilot on Canton Network
Mitsubishi UFJ Trust Bank joined MUFG, MUFG Securities, MUFG Bank, Digital Asset and Progmat to start a JGB repo on-chain pilot.
The project uses the Canton Network to test delivery-versus-payment settlement of JGBs versus digital money, including tokenized deposits or stablecoins.
A second workstream targets end-to-end repo lifecycle automation via Secured Finance’s lending protocol, aiming for intraday real-time repo settlement.
The program is positioned to raise operational efficiency, extend settlement windows and improve funding and capital efficiency for institutional market participants.
The pilot forms part of Japan FSA’s Payments Innovation Project support granted in February, with a view toward broader industry participation.
