DeFi· ★★★· neutral·

Progmat outlines tokenized JGB plan that keeps bonds' legal status intact

  • —Core model uses an OC account: bonds move there, a token is issued on-chain, and the token is burned on return
  • —Ownership transfers when the OC account ledger is updated; the token is unlocked afterward
  • —The authoritative record would sit in a new 24/7 system rather than on-chain due to personal data concerns
  • —Canton Network pilot targeted for November; the working group has grown to 69 organizations
Why it matters: The design would let the world's largest government bond market be tokenized without altering tax or collateral treatment, lowering barriers to institutional adoption.
Source: CoinPost
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