Japan's MUFG and Franklin Templeton Join Forces on Institutional Blockchain
MUFG, one of Japan's largest banks, has successfully tested real-time on-chain JGB settlement using the Canton Network. This marks a significant milestone in the development of institutional blockchain infrastructure in Japan.
The test allows for the simultaneous clearing and settlement of Japanese government bonds (JGBs) on the blockchain, reducing the need for intermediaries and streamlining the process. This technology has the potential to increase efficiency and reduce costs associated with traditional bond trading.
Meanwhile, Franklin Templeton, a global asset manager with over $1.5 trillion in assets under management, has joined the Canton Network as a super validator. As part of this partnership, Franklin Templeton will provide institutional-grade validation for the network's operations.