Sumitomo Mitsui Trust Bank announced on July 9 that it has launched an empirical experiment aimed at tokenizing the beneficial rights of a Cayman Islands-registered money market fund (MMF) on a public blockchain, a first among domestic trust banks in Japan. The tokenized beneficial rights will be treated as digital securities, and the relevant business has received technical support from Securitize and Fireblocks. Sumitomo Mitsui Trust Bank plans to issue the fund within fiscal year 2026, and is committed to leveraging the experience from this experiment to build an open infrastructure with digital securities issuance and management functions, available for asset management companies, sales companies, and Web3 enterprises. The goal is to achieve instant delivery-versus-payment (DvP) with stablecoins, smart contract-driven automatic interest payments, and 24/7 cross-border transactions. (CoinPost)

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