Mitsubishi UFJ Financial Group (MUFG) is set to issue Japan's first blockchain bond on November 11, 2025. The bond, valued at 10 billion yen (approximately $65.4 million), will be an unsecured subordinated bond classified as Tier 2 capital. MUFG Morgan Stanley Securities will underwrite the issuance. The bond transfers will be managed on the Progmat blockchain, although they cannot be used as collateral. This initiative aims to attract digital asset investors and foster the growth of Japan's capital markets.