Overview
- MUFG announced on Aug. 13, 2026 that four of its units will run a proof‑of‑concept with Digital Asset, Progmat and Secured Finance using the Canton Network to test onchain settlement for Japanese government bond repo trades.
- One strand will test delivery‑versus‑payment between JGBs and digital money by synchronizing traditional book‑entry registers with blockchain records so legal ownership of bonds remains unchanged.
- A separate strand will use Secured Finance’s lending protocol to automate the repo lifecycle with smart contracts, aiming to speed processing and reduce operational work.
- MUFG says the project will explore tokenized deposits or stablecoins for the cash leg to remove settlement mismatch risk, but it did not name counterparties, set volumes, or give a production date.
- The PoC was chosen under the FSA’s Payment Innovation Project and follows overseas intraday onchain repo precedents, meaning broader regulatory, legal and operating decisions must come before any live market rollout.