According to CoinMeta, MUFG announced a joint test with three subsidiaries on the Canton network for the repurchase of Japanese government bonds. The project aims to achieve automated processing and 24-hour on-chain settlement. The participating companies include Mitsubishi UFJ Morgan Stanley Securities, Mitsubishi UFJ Trust and Banking Corporation, and MUFG Bank, with plans to evaluate the automation capabilities of blockchain infrastructure throughout the lifecycle of repurchase transactions. This project is part of a payment innovation initiative under the supervision of the Financial Services Agency of Japan, aimed at supporting fintech experiments.