According to CoinMeta, on October 8, 2026, the Japanese Ministry of Finance held its first meeting to discuss the tokenization of government bonds using blockchain technology. The meeting proposed three possible applications of blockchain to attract new investors in response to the increasing debt. The document released by the Ministry of Finance categorized the core concepts into three categories, with the aim of soliciting opinions and conducting discussions. The first category does not involve the bonds themselves, but rather the transfer of benefits from money market funds that invest in Japanese government bonds through blockchain. The second category involves fixing the ledger on the blockchain within Japan's existing bookkeeping settlement system. The third category involves launching a new type of government bond that is conducted directly on a blockchain outside of the existing settlement system. The Ministry of Finance stated that market participants will benefit from the liquidity management advantages brought about by tokenization, with overseas investors expected to be the biggest beneficiaries. In the fiscal year 2027, Japan will request a record amount of 143 trillion yen (about 918 billion US dollars), and the cost of debt servicing is expected to reach a record 36.64 trillion yen (about 234 billion US dollars).