Progmat partners with Canton developer on tokenized Japanese government bonds

Progmat, a Japanese platform for issuing and managing digital assets, has signed a memorandum of understanding with Digital Asset Holdings, the developer of the Canton blockchain, to build an on-chain trading and settlement system for real-world assets including Japanese government bonds, CoinPost reported. The two companies plan to first connect Progmat’s digital asset issuance and management platform to the Canton network and then pursue the implementation of "tJGB," a tokenized form of Japanese government bonds designed to preserve the bonds’ legal character and settlement finality. The plan is to enable blockchain-based 24/365 settlement while maintaining the existing framework for transferring rights tied to government bonds.