Share this article
Japan's Financial Firms Test Distributed Ledger With R3 Corda Trial
A group of Japanese financial institutions has tested a prototype that uses DLT to streamline international transaction agreements.
By Wolfie Zhao
Updated Sep 11, 2021, 1:28 p.m. Published Jun 20, 2017, 10:00 a.m.
Make us preferred on Google
A group of Japanese financial institutions has successfully tested a prototype that uses distributed ledger technology (DLT) to streamline international transaction agreements.
Announced earlier this month, Nomura Holdings, Daiwa Securities, Mizuho Financial Group and Sumitomo Mitsui Banking Corporation used distributed ledger startup R3's Corda software to streamline an ISDA Master Agreement negotiation.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Published by the International Swaps and Derivatives Association (ISDA), the agreement is intended for over-the-counter (OTC) derivatives transactions internationally. The framework traditionally requires each party involved in the transaction to record and store the emails and documentations that are produced in internal coordination and external negotiation.
According to a statement, using the prototype, each time a transaction is recorded, the terms of the master agreement will apply automatically and do not need to be renegotiated, thus improving transparency and simplifying data management.
Mizuho Bank, Daiwa Securities Group and Nomura Holdings, previously joined a blockchain consortium formed by the Japan Exchange Group (JPX) last November, with a goal of testing a blockchain-based market infrastructure proof-of-concept. The project now has 26 members, including several key regulators such as Japans's central bank and the Financial Service Agency, the country's top markets watchdog.
Developed by R3, a consortium of global financial institutions, Corda is a distributed ledger platform providing APIs and codes for companies to build up blockchain-like applications. It has recently moved to its first public beta phase, marking a notable milestone that follows its launch in November 2016.
Japan roads image via CoinDesk
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
