# Progmat, Digital Asset Holdings Plan Tokenized Japanese Government Bonds

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/52776
Published: 2026-11-10T03:28:29.000Z
Updated: 2026-11-10T03:28:29.000Z
Section: Business

> The companies will connect Progmat’s platform to Canton Network. A planned November test will cover tJGB, tokenized deposits and stablecoins.

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.

A working group under DCC plans to begin a second-stage live test in November. It will test issuing and managing tJGB, tokenized deposits and stablecoins on Canton Network. The plan also calls for connecting domestic and international repo and collateral platforms over time.

MUFG and three affiliated financial institutions have announced participation in related work to test delivery-versus-payment for government bonds and digital currency, along with the full repo trading process.