Zenith Joins Progmat Working Group to Explore Blockchain in Japan's $1.6 Trillion Repo Market
Zenith, an Ethereum-compatible infrastructure layer built on the Canton Network, has joined the Progmat Tokenised JGB / On-chain Repo Working Group. This consortium, which includes major Japanese and international financial institutions, is exploring the application of blockchain technology to Japan's government bond repo market. The group, which began its work in May 2026, aims to produce a comprehensive report by October, with potential pilots for tokenised Japanese Government Bonds (JGB) issuance expected before the end of the year. The initiative seeks to address the operational inefficiencies in the traditional repo market, such as multi-day settlement cycles and limited operating hours, by enabling same-day settlement and round-the-clock availability. 
