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MUFG plans PoC for onchain Japanese government bond repos
The proof of concept aims to support real-time intraday settlement 24/7 and improve funding and capital efficiency using Canton Network.
MUFG is set to run a proof of concept to move Japanese government bond repo transactions onto a blockchain network, aiming for settlement that runs around the clock, Cointelegraph reported.
The PoC will involve four MUFG-related companies, including MUFG, Mitsubishi UFJ Morgan Stanley Securities, Mitsubishi UFJ Trust and Banking, and MUFG Bank, collaborating with Digital Asset Holdings and Progmat using the Canton Network.
The firms said the project is intended to automate parts of the transaction lifecycle to improve operational efficiency, enable real-time intraday settlement 24/7, and enhance funding and capital efficiency, according to the announcement.
The initiative ties to Japan’s Financial Services Agency Payment Innovation Project pilot launched in February 2026, which is designed to let fintech firms test advanced payment technologies including blockchain-based solutions, stablecoins, tokenization, and onchain settlement. Cointelegraph also noted MUFG previously said its Progmat Coin platform would be used by banks to issue yen-pegged stablecoins on public blockchains.