Deployments · platform by Nomura
Nomura, Daiwa and megabank groups' blockchain transfer of book-entry securities proof of conceptNew
Nomura Securities, Daiwa Securities and the MUFG, Mizuho and SMBC groups are testing a cross-industry way to transfer legal title to securities held in Japan's book-entry system (government bonds, listed shares, investment trusts and corporate bonds) by keeping the book-entry account records in step with data on a blockchain, updated by smart contracts, in trades between securities firms. Payment would be in digital money, with the stablecoin the three megabanks plan to issue jointly as the assumed cash leg. The Japan FSA accepted it into its FinTech Proof-of-Concept Hub in February 2026. No test results have been published.
Announced since 13 Feb 2026[1] — Accepted by the FSA hub; press reports say experiments with share trades began in February 2026, but no results are published, so the weaker status is used. · Reviewed 13d ago
- Assets
- UndisclosedStablecoin[1]Government bonds, listed shares, investment trusts and corporate bonds that stay in the book-entry system, with records synchronised to a blockchain[1]The three megabanks' planned jointly issued stablecoin as the cash leg
- Networks
- Jurisdictions
- Japan
Participants
- NomuraPlatform provider, Operator, Counterparty[1]Japan
- Daiwa SecuritiesPlatform provider, Operator, Counterparty[1]Japan
- MUFGPlatform provider, Operator, Cash leg provider[1]Japan
- MizuhoPlatform provider, Operator, Cash leg provider[1]Japan
- SMBCPlatform provider, Operator, Cash leg provider, Paying or settlement agent, Transfer agent or registrar[1][2]Japan
- Financial Services Agency (Japan)Legal or professional adviser[1]Japan
- BOOSTRYTechnology provider[2]Japan
Likely relevant regulation
- Japan security token rules under the Financial Instruments and Exchange Act (2019 amendment)Japan
- Japan Payment Services Act stablecoin framework (electronic payment instruments)Japan
Timeline
- Happened 13 Feb 2026 · Announcement · recorded 18 Oct 2026The five firms announce that the FSA's FinTech Proof-of-Concept Hub has accepted their trial of blockchain-based transfer of book-entry securities settled in digital money.[1]
Sources
- [1]Proof of concept on trading and transfer of rights in traditional assets using blockchain and digital money accepted as a supported case by the FSA FinTech Proof-of-Concept Hub — Nomura Securities, Daiwa Securities, MUFG, Mizuho Financial Group and Sumitomo Mitsui Financial Group (joint release), 13 Feb 2026. Accessed 18 Oct 2026. In Japanese; our summary is translated.B
- [2]Announcement on Collaboration for Issuance of a Digital Bond Using a Settlement Scheme New to Japan and a Proof of Concept for Japan's First Securities Settlement Using Digital Currency | News Release — Nomura, 14 Mar 2025. Accessed 6 Nov 2026.B
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