MUFG Trust, MUFG partners with Digital Asset, Progmat on Canton Network JGB repo tokenization pilot

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

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