MUFG Launches Japan’s JGB Repo Trial on Canton Network
The project tests whether blockchain infrastructure can support a core fixed-income workflow in Japan's government-bond market.
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The project tests whether blockchain infrastructure can support a core fixed-income workflow in Japan's government-bond market.
A 1-3 day settlement cycle is the target. Real-time 24/7 onchain JGB repo settlement would reset Japan's bond plumbing, with MUFG following the JPMorgan Kinexys playbook for US Treasuries.
MUFG, SMBC, and Mizuho, Japan's three largest banks by assets, have agreed to jointly issue a single yen-pegged…
MUFG, SMBC and Mizuho already have the FSA's informal backing — together they move roughly half of Japan's deposits, which is the kind of balance-sheet mass USDT and USDC never had at launch.