Gate News message, April 20 — Mizuho Financial Group, Nomura Holdings, Japan Securities Clearing Corporation (JSCC), and Digital Asset Holdings have jointly announced a blockchain-based collateral management pilot program. The initiative will leverage Canton Network, a blockchain platform designed for institutional finance, to explore digital collateral management using Japanese Government Bonds (JGBs).
The pilot will test JGB rights transfer and ledger updates across multi-tier account structures using blockchain technology, while exploring 24/7 real-time collateral transactions while maintaining the legal properties of issued securities. The program will also evaluate cross-border scenarios and assess compatibility with relevant regulations and rules.
The project is part of Japan’s Financial Services Agency’s Payment Innovation Project (PIP) and aims to improve cross-border collateral management efficiency, reduce operational costs for financial institutions and investors, and enhance the international competitiveness of Japan’s financial markets.
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