Progmat, Digital Asset Holdings Plan Tokenized Japanese Government Bonds

Progmat and Digital Asset Holdings signed an MOU on Nov. 9 to develop tokenized Japanese government bonds on Canton Network and explore 24/7 settlement while preserving the legal effect of bond-rights transfers and settlement finality. The first phase calls for connecting Progmat’s digital asset platform to Canton Network, an institutional blockchain, and developing tJGB, a tokenized government bond designed to retain the existing legal attributes of Japanese government bonds. The planned product would also link to an existing securities transfer account-book system. The settlement capabilities are project goals, not completed features.