Mitsubishi UFJ Financial Group (MUFG) has launched a proof of concept for on-chain Japanese government bond (JGB) repo transactions. The bank is cooperating with Digital Asset and Progmat, and the pilot runs on Canton Network, according to a Techub News report. The PoC has been designed to automate the transaction lifecycle and enable round-the-clock real-time settlement using blockchain technology, with the goal of raising operational efficiency and capital efficiency. It forms part of the payment innovation pilot series selected in Japan in February 2026. MUFG said it will also discuss next steps with regulators and other market participants, including Morgan Stanley, as it pushes the project forward. The pilot is meant to help move the project toward deployment. The report notes that the new test comes as intraday government bond repo PoCs expand quickly in Europe and the United States. The US Treasury's commercial repo service has already been put into operation.
Techub News reports that Mitsubishi UFJ Financial Group (MUFG) has launched a proof of concept for on-chain Japanese government bond (JGB) repo transactions, working with Digital Asset and Progmat on Canton Network.
The PoC targets full automation of the transaction lifecycle and real-time settlement around the clock through blockchain, with the goal of boosting operational efficiency and capital efficiency. It is part of a payment innovation pilot series selected in February 2026 in Japan. MUFG said it will engage with regulators and market participants, including Morgan Stanley, as it moves the project toward implementation.
In Europe and the United States, intraday government bond repo proofs of concept have expanded rapidly. The US Treasury's repo commercial service is already in operation.
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