Key Takeaways:
- Avalanche and Progmat are initiating a long-term campaign to shift the Japanese government bond repo business onto-chain.
- Stablecoin settlement, DeFi-powered repo transactions and tokenized Japanese Government Bonds (TJGBs) are included in the project.
- There are more than $2 billion in tokenized securities already on a Progmat platform, powered by its infrastructure on the Avalanche chain.
The country’s huge government bond market is the latest to gain traction in blockchain’s finance revolution. Avalanche and Progmat are currently aggressively advocating for the modernization of repo transactions via tokenized bonds, stablecoins and a recently built onchain settlement technology geared towards institutions.
Commercial deployment is slated for 2026, and the initiative may well be one of the biggest real world asset tokenization in Asia if it goes into effect.
Avalanche and Progmat Launch Tokenized JGB Initiative
Progmat announced the creation of the “Tokenized JGB/On-Chain Repo Working Grou...
English (US)