Mitsubishi UFJ Financial Group (TYO:8306) said it will, along with three of its holding companies, launch a proof-of-concept to bring Japanese government bond repo transactions on blockchain, according to a Thursday release.
The Tokyo-listed group said that the transactions will be conducted using Canton Network, a blockchain purpose-built for institutional finance.
The PoC is part of a series of pilot projects selected in February under the Financial Services Agency-led Payment Innovation Project.