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Deployments · Progmat · platform by Progmat

MUFG domestic tokenised investment trust pilot (Progmat)New

Mitsubishi UFJ Asset Management, Mitsubishi UFJ Morgan Stanley Securities and Mitsubishi UFJ Trust and Banking, with Progmat, set up on 31 August 2026 what they call Japan's first Japan-domiciled tokenised investment trust. The fund's register of unitholders is kept on chain. It is a live pilot to run the investment, trustee and tokenisation functions in a real environment and is not offered to outside investors. The firms began work in December 2025 aiming first at a yen tokenised money management fund for institutional investors, and plan to widen the test to outside investors and to links with stablecoins and tokenised deposits.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Pilot since 31 Aug 2026[1] — Real fund in a live environment, but units are not sold to outside institutional or retail investors. · Reviewed 13d ago

Assets
Fund interest[1]
Units of a Japan-domiciled investment trust whose register is kept on chain; the pilot fund's strategy is not disclosed
Networks
Unknown ledger Not disclosed[1]
Progmat platform; the release does not name the ledger.
Use cases
Primary issuance[1]Asset servicing[1]Fund subscription and redemption[2]
Jurisdictions
Japan

Participants

  • MUFGAsset manager, Custodian, Depositary or trustee, Distributor[1]Japan
  • ProgmatPlatform provider, Technology provider[1][2]Japan

Operates under

Timeline

  1. Happened 31 Aug 2026 · Launch · recorded 18 Oct 2026
    The pilot tokenised investment trust is set up and starts running in a live environment, without outside investors.[1]
  2. Happened 4 Dec 2025 · Announcement · recorded 18 Oct 2026
    The four firms start work on Japan's first tokenised investment trust, beginning with a yen tokenised money management fund for institutional investors targeted for 2026.[2]

Sources

  1. [1]Japan's first domestic tokenised investment trust set up and live-environment pilot begins — Mitsubishi UFJ Asset Management, Mitsubishi UFJ Morgan Stanley Securities, Mitsubishi UFJ Trust and Banking and Progmat (joint release), 3 Sep 2026. Accessed 18 Oct 2026. In Japanese; our summary is translated.B
  2. [2]Collaboration begins on infrastructure for commercialising Japan's first tokenised investment trust — Mitsubishi UFJ Asset Management, Mitsubishi UFJ Morgan Stanley Securities, Mitsubishi UFJ Trust and Banking and Progmat (joint release), 4 Dec 2025. Accessed 18 Oct 2026. In Japanese; our summary is translated.B

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