According to CoinMeta, the Japanese Financial Services Agency, the Ministry of Finance, banks, and financial institutions plan to study the infrastructure for tokenizing central bank deposits in order to achieve instant cash settlement for stock and Japanese government bond transactions. The research team is expected to develop a plan by the beginning of 2027, and if officially approved, the system could begin operating in the early 2030s. This system will convert a portion of banks' deposits in their current accounts with the Bank of Japan into digital tokens that can circulate on the blockchain, to be used for inter-bank settlements.