Japan
NADA News
JGB Tokenization: 'What Changes and How' Takes Shape — Book-Entry Transfer Bonds Stay as They Are, Management Moves On-Chain
- The underlying book-entry transfer JGB (furikae kokusai) system is expected to be retained as-is, not replaced by a new bond instrument.
- The shift targets the administrative/management layer — moving record-keeping and related processes on-chain rather than altering the bonds' legal or settlement structure.
- The move signals that JGB tokenization plans are becoming more concrete regarding which specific functions will change and which will not.