Japanese government bonds are also going to trade 24 hours a day? Progmat teams up with Canton Network to explore government bond tokenization and round-the-clock on-chain settlement.

Progmat and Digital Asset signed a memorandum of understanding to bring Japanese government bonds (JGBs) onto Canton Network as tokenized sovereign assets, starting with a tokenized JGB product called tJGB. The first phase will connect tJGB to Canton Network's standard while preserving existing legal effect and settlement finality, with the goal of enabling 24/7 on-chain settlement every day of the week. The move matters because prior tokenization efforts focused mainly on offshore short-term U.S. Treasury fund wrappers rather than native sovereign debt, and Japan's JGB stock is the world's second largest within a global sovereign bond market exceeding $70 trillion. Canton's Daml-based sub-transaction privacy lets only counterparties view their data shards, addressing banks' concerns about public-ledger broadcasting of positions and trades. tJGB will integrate with Japan's existing securities transfer account bookkeeping to support round-the-clock delivery-versus-payment, potentially turning JGBs into always-available collateral for cross-time-zone repo and margin calls. MUFG and three affiliated institutions are participating, with Progmat's Digital Asset Co-Creation Alliance starting phase-two live testing in November 2026 on Canton's production environment to test issuance of tJGB, tokenized deposits and stablecoins, and repo transactions.