Japan's financial authorities plan to study a blockchain‑based system that would enable instant cash settlement of stock and government bond transactions. The study group, expected to be formed this summer by the Financial Services Agency, Ministry of Finance, the Bank of Japan and participating financial institutions, will determine the technical design, allocate responsibilities and produce a development plan early next year. If formally approved, the system could begin operating in the early 2030s. The proposal would convert some of the Bank of Japan’s current account deposits into digital tokens for interbank settlement on a blockchain, allowing trades to settle outside the existing T+2 equity and T+1 bond timelines. The timeline for formal approval and deployment remains undetermined, and the initiative will require further evaluation before implementation.