According to CoinMeta, as reported by Nikkei, Japan has officially launched the on-chainization of its $8 trillion government bond market. The Financial Services Agency of Japan, the Ministry of Finance, the Bank of Japan, and three major banks are building a system for 24/7 instant settlement of stocks and government bonds. JPMorgan Chase and Blackstone Japan are already testing competitive blockchain settlement systems for the same market. This move comes weeks after Japan ended a four-year freeze on cryptocurrencies and began to regard digital assets as financial products.