[Progmat Partners with Digital Asset to Advance Tokenization of Japanese Government Bonds] Japanese security token platform Progmat has signed a basic agreement with Digital Asset Holdings to leverage the Canton Network to advance the tokenization and 24/7 settlement of Japanese government bonds (JGBs). Progmat has handled 51 of the 103 publicly disclosed ST issuance projects in the Japanese market, involving 290.6 billion yen out of a total of 470.3 billion yen. The working group under the Digital Asset Co-creation Alliance, hosted by Progmat, plans to enter its second phase of practical testing in November, building a sandbox on the Canton Network for issuing tJGBs, tokenized deposits, and stablecoins. Mitsubishi UFJ Financial Group and its subsidiaries have partnered with Progmat and Digital Asset to verify the simultaneous settlement of government bonds and digital currencies, as well as the on-chain recording of the entire lifecycle of repurchase transactions. (Source: CoinPost)