Japan’s JSCC teams up with Mizuho and Nomura to pilot blockchain-based government bond collateral, testing real-time settlement with compliance safeguards

JGB collateral is the largest repo pool in Asia and currently settles T+1 — real-time clearing lets dealers rehypothecate intraday instead of waiting for next-day unwinds. JSCC running with Mizuho and Nomura means permissioned ledger, likely Progmat or a Corda variant, so zero composability with Ondo or BUIDL. Japan's been quietly building tokenized rails (DCJPY, Progmat Coin) for years; JGB repo is where those rails stop being demos and start routing real yen flows.

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More coverage

• Japanese Government Bond Collateral Goes Onchain in New JSCC ... (news.bitcoin.com)
• JSCC To Test Japanese Government Bonds on Canton Network (coinmarketcap.com)
• Launch of proof-of-concept trial for digital collateral management ... (jpx.co.jp)
• Nomura, Mizuho, JSCC to trial tokenized collateral on Canton Network (ledgerinsights.com)
• invest (x.com)

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