Odaily Planet Daily News According to plans by Japan’s Financial Services Agency, Ministry of Finance, Bank of Japan, and major financial institutions, they intend to build nationwide blockchain-based stock and Japanese government bond settlement infrastructure, and to set up a working group this summer. The relevant work is expected to begin as early as early 2027. If the plan receives official approval and testing goes smoothly, the new system could be put into operation as early as the early 2030s.
Under the plan, the Bank of Japan will convert part of the reserves held at the Bank of Japan into digital tokens to be used for wholesale CBDC purposes among financial institutions. Currently, Japanese stocks and government bonds are settled on T+2 and T+1, respectively. The new system aims to shorten both to near real-time settlement. In addition, major Japanese banks such as MUFG, SMBC, and Mizuho have already carried out pilots related to tokenized stocks and Japanese government bonds. (CoinDesk)
Under the plan, the Bank of Japan will convert part of the reserves held at the Bank of Japan into digital tokens to be used for wholesale CBDC purposes among financial institutions. Currently, Japanese stocks and government bonds are settled on T+2 and T+1, respectively. The new system aims to shorten both to near real-time settlement. In addition, major Japanese banks such as MUFG, SMBC, and Mizuho have already carried out pilots related to tokenized stocks and Japanese government bonds. (CoinDesk)