“MUFG plans to use blockchain technology to offer faster settlement of Japanese government bond (JGB) transactions, in a move reminiscent of similar initiatives by banks in other countries.
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“Given their high credit worthiness and liquidity, JGBs are widely used as collateral for repo transactions by market participants in Japan and overseas, and momentum for bringing them onchain is growing,
“MUFG noted that financial institutions in Europe and the U.S. have expanded proof-of-concept projects to achieve this exact goal.
“BitBonds will sit alongside common stock, equity-linked securities and preferred shares as a core funding channel
“Wednesday’s large BTC transfer, flagged by blockchain trackers, was merely a “routine custody transfer” and not a liquidation
“bitcoin moves hardest when inflation data forces a rethink on rates, gaining an average 3.25% across the three occasions in the past nine releases when inflation came in below expectations
“the transfer of 5,014 BTC, worth about $320 million, was a routine shift between custodial addresses
“the company has not sold any bitcoin and still holds 43,000 BTC despite recent large on-chain movements
“The estimate depends on the preferred-share distributions and the interest-rate difference between Brazil and the U.S.