According to CoinPost, Japan's Sumitomo Mitsui Trust Bank launched a proof-of-concept for tokenizing money market fund (MMF) benefits on public blockchains, with completion targeted in fiscal 2026. The bank is collaborating with Securitize Japan and Fireblocks to issue MMF benefit rights as digital securities under Japan's Financial Instruments and Exchange Act.
The bank plans to build an open platform for digital securities issuance and management based on the proof-of-concept results, and explore use cases including instant settlement (DvP) with stablecoins, automated smart contract payouts, and 24/7 cross-border transactions.