MUFG PoC to bring Japanese government bond repo transactions onchain
Summary
Four MUFG-related firms — MUFG, Mitsubishi UFJ Morgan Stanley Securities, Mitsubishi UFJ Trust and Banking, and MUFG Bank — will test moving Japanese government bond repo transactions onchain using the Canton Network. The PoC will be run with Digital Asset Holdings and Progmat. Goals include automating the transaction lifecycle, enabling 24/7 intraday real-time settlement, and improving funding and capital efficiency. The project fits into Japan’s Financial Services Agency’s Payment Innovation Project pilot, which supports PoCs for blockchain, stablecoins, tokenization, and onchain settlement. MUFG continues expanding its blockchain efforts, especially around its Progmat Coin stablecoin platform.
