Japan is advancing parallel blockchain tracks to modernize interbank payments and securities settlement, with authorities preparing a next-generation infrastructure for instantaneous, around-the-clock stock and Japanese government bond settlement. Nikkei Asia reported on August 26, 2026 that the Financial Services Agency, Ministry of Finance, Bank of Japan and major financial institutions will form a study group this summer to produce an early-2027 development plan covering blockchain design, public-private responsibilities and a roadmap, with operations possible within a few years and fuller functionality in the early 2030s. The concept would tokenize a portion of banks’ Bank of Japan current accounts as wholesale settlement money and synchronize those tokens with existing book-entry transfer registers, enabling atomic delivery-versus-payment while preserving the legal status of listed shares and JGBs. That would compress today’s T+2 equity and T+1 JGB cycles. Parallel work includes a roughly 40-bank DCJPY tokenized-deposit pilot informing the Zengin System’s 2030 successor, MUFG’s August 2026 Canton Network JGB repo proof-of-concept with Digital Asset and Progmat, JPMorgan’s Kinexys JGB trial, joint megabank stablecoin preparations, and fiscal 2027 crypto reclassification rules.