According to Nada News, nine Japanese institutions, including Sumitomo Mitsui Banking Corporation, Daiwa Securities, SBI Securities, Progmat, and Datachain, announced the completion of Phase 2 verification for “Project Trinity.” The project aims to eliminate settlement timing mismatch risk through delivery versus payment (DvP). In the test, Daiwa Securities and SBI Securities simulated the START market of the Osaka Digital Exchange (ODX), completing two synchronized cross-chain settlements using ST corporate bonds issued by SBI VC Trade and trust-type stablecoins issued by Sumitomo Mitsui Banking Corporation. The results provided interim verification of the feasibility of a T+2 settlement cycle.