Japanese Banks Plan 24/7 Tokenized Bond Trading With Stablecoin Settlement

A consortium of major Japanese banks and securities firms plans to launch 24/7 trading for tokenized government bonds by the end of this year, targeting a repo market worth about $16 trillion globally. The system would use blockchain-based security tokens and stablecoins to move settlement from T+1 to T+0. A development group centered on Progmat under MUFG is set to start in May with participation from Japan’s three megabanks, BlackRock Japan, and State Street.

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