PANews reported on April 20 that Mizuho Financial Group , Nomura Holdings, the Japan Securities Clearing House, and Digital Asset launched a pilot experiment on digital collateral management for Japanese Government Bonds ( JGBs ). Based on the Canton Network blockchain network, the experiment verifies whether JGB rights transfers and account book updates can be smoothly completed within a multi-tiered account structure under the existing replacement law framework. The experiment will integrate the system with existing infrastructure to explore 24- hour real-time collateral transactions and cross-border collateral granting and receiving scenarios without altering the legal nature of JGBs . It will also assess whether relevant regulations need revision to improve collateral management efficiency and enhance the usability of JGBs in the digital asset field.