Mitsubishi UFJ Financial Group plans to launch an instant settlement service for Japanese government bonds using blockchain

Japan's largest banking group, Mitsubishi UFJ Financial Group (MUFG), plans to utilize blockchain technology to provide instant settlement services for certain Japanese Government Bonds (JGB) transactions.

According to reports, MUFG plans to conduct blockchain-based Japanese Government Bond repurchase transactions using tokenized money market funds and stablecoins to shorten the settlement process of traditional securities transactions.