--- title: "SBI and Cambodia’s central bank plan Canton trial for tokenized government bonds" description: "SBI and the National Bank of Cambodia have signed an MOU to test government-bond tokenization, with Canton planned as the network. The project aims to widen access to smaller investments, with interim results due at the November 15–16 Black Swan Summit." url: "https://cantonnews.org/sbi-and-cambodia-s-central-bank-plan-canton-trial-for-tokenized-government-bonds" canonical: "https://cantonnews.org/sbi-and-cambodia-s-central-bank-plan-canton-trial-for-tokenized-government-bonds" markdown_url: "https://cantonnews.org/sbi-and-cambodia-s-central-bank-plan-canton-trial-for-tokenized-government-bonds.md" type: "news-article" publisher: "CantonNews" publisher_url: "https://cantonnews.org" author: "CantonNews" author_url: "https://cantonnews.org/author/cantonnews" author_type: "organization" date_published: "2026-11-13T14:12:52.214Z" category: ["TOKENIZATION", "INSTITUTIONS"] tags: ["SBI Holdings", "National Bank of Cambodia", "Government bonds", "Tokenization", "Canton Network", "SBI Digital Practice"] image: "https://pnyaxwohgkgczwuvbaqg.supabase.co/storage/v1/object/public/article-images/articles/2026-11-13-sbi-cambodia-9d89ec8dd5da-cover.jpg" read_time_minutes: 4 language: "en" --- # SBI and Cambodia’s central bank plan Canton trial for tokenized government bonds **By [CantonNews](https://cantonnews.org/author/cantonnews), Editorial Team** · Published 13 November 2026 · TOKENIZATION, INSTITUTIONS > SBI and the National Bank of Cambodia have signed an MOU to test government-bond tokenization, with Canton planned as the network. The project aims to widen access to smaller investments, with interim results due at the November 15–16 Black Swan Summit. ![SBI and Cambodia’s central bank plan Canton trial for tokenized government bonds](https://pnyaxwohgkgczwuvbaqg.supabase.co/storage/v1/object/public/article-images/articles/2026-11-13-sbi-cambodia-9d89ec8dd5da-cover.jpg) SBI Holdings and the National Bank of Cambodia have signed a **memorandum of understanding** for a proof of concept involving tokenized Cambodian government bonds, with Canton Network planned as the blockchain infrastructure. The November 13 announcement sets out a project aimed at making government-bond investment accessible in smaller amounts through local financial institutions. The partners will test the technology and transaction process, with interim results and a demonstration planned for the Black Swan Summit in Phnom Penh on November 15–16. [SBI’s announcement](https://www.sbigroup.co.jp/news/2026/1113_16736.html) For Canton, the agreement brings SBI’s financial-infrastructure work into a project with Cambodia’s central bank. Its focus is practical — connecting tokenized bond transfers with the registration and management of the people who own them. ## Bringing smaller investments within reach The intended outcome is a route for Cambodian citizens to hold government bonds in small amounts through financial institutions they already use. SBI and the central bank frame that goal as financial inclusion for wealth building, extending digital-finance efforts into investment access. A government bond is a loan to a government, with payments governed by the instrument’s terms. Tokenization represents the bond through digital tokens that can be recorded and transferred on blockchain infrastructure. SBI identifies several potential benefits of that approach. Smaller purchase units could broaden participation, while automated processes could help manage bondholder records, interest payments and repayment at maturity. The proof of concept will examine technical feasibility alongside the efficiency, security and transparency of transactions. [Project objectives](https://www.sbigroup.co.jp/news/2026/1113_16736.html) The retail-access ambition remains a development goal. Specific service features and the timing of their availability will be determined through further discussions between the partners. ## How the responsibilities fit together The National Bank of Cambodia, or **NBC**, will register and manage bondholder information as the tokenized government bonds are transferred. That role connects the movement of tokens with the ownership records needed to administer the bonds. SBI will use its group companies to handle the system environment and the trial. SBI Bank (Cambodia), its Phnom Penh-based commercial-banking subsidiary, will work with NBC on technical verification of bond tokenization and transfers. SBI Digital Practice will build and operate the blockchain environment used for the experiment. The announcement specifically names **Canton Network as the planned network** for the proof of concept. [Participant roles](https://www.sbigroup.co.jp/news/2026/1113_16736.html) ![The National Bank of Cambodia will manage bondholder information, SBI Bank Cambodia will help verify tokenization and transfers, and SBI Digital Practice will build and operate the trial environment. Canton is planned for the proof of concept.](https://pnyaxwohgkgczwuvbaqg.supabase.co/storage/v1/object/public/article-images/articles/2026-11-13-sbi-cambodia-f61fb40eacd6-cambodia-bond-roles.png) _Responsibilities under the [November 13 MOU](https://www.sbigroup.co.jp/news/2026/1113_16736.html). SBI plans interim results and a demonstration at the November 15–16 Black Swan Summit. Service details and availability will be determined through further discussions._ The assignment builds on SBI Digital Practice’s existing mandate. As we covered in July, SBI reorganised the subsidiary around developing Canton-based financial infrastructure, applications and implementation support for financial institutions in Japan and overseas. The Cambodian bond project gives that mandate a defined central-bank use case. [Our SBI Digital Practice coverage](https://cantonnews.org/sbi-rebrands-subsidiary-to-build-financial-infrastructure-on-canton-network) ## Cambodia’s payment experience and Canton’s bond work SBI places the proposal alongside Cambodia’s experience with Bakong, NBC’s widely used blockchain-based payment system. Its stated ambition is to bring similar attention to inclusion in savings and investment, helping more citizens participate in the government-bond market. The bond project also adds to the range of sovereign-securities work involving Canton. Earlier this week, Progmat and Digital Asset signed an agreement covering Canton support for Progmat’s platform, links to Japanese government-bond ownership records and examination of institutional node services. That collaboration is progressing through development and demonstrations. [Our Progmat agreement coverage](https://cantonnews.org/progmat-and-digital-asset-sign-canton-agreement-for-japanese-government-bonds) In the United States, DTCC’s Tokenization Service launched on October 28 with Canton and DTCC’s private Besu network as its initial integrations. It gives eligible institutions a route to tokenize entitlements to securities held at DTC, including US Treasuries. [Our DTCC launch coverage](https://cantonnews.org/dtcc-s-tokenization-service-goes-live-on-canton-and-besu) The Cambodian proposal’s particular emphasis is domestic access to government bonds in smaller amounts. NBC’s responsibility for holder information and SBI’s role in building the trial environment are the first operational components set out in the agreement. ## The next checkpoint is November 15–16 SBI plans to present interim findings at the Black Swan Summit, together with a demonstration and a discussion involving the participants. The summit’s published agenda includes a November 16 session on widening investment access that explicitly describes an onchain government-bond transfer demonstration using Canton. [Official summit session](https://www.cambodia.blackswansummit.com/agenda/agnd321-from-off-chain-to-on-chain-who-will-be-the-next-investors) SBI and NBC also announced a separate MOU on November 13 for a Japan–Cambodia remittance proof of concept using the yen-denominated stablecoin JPYSC for settlement between financial institutions. That announcement gives the wider relationship a payments dimension alongside the bond work. [Separate remittance announcement](https://www.sbigroup.co.jp/news/2026/1113_16737.html) The upcoming bond demonstration is the next opportunity to see the transfer workflow in action. Subsequent discussions will shape the eventual service, its availability and how the proposed small-ticket investment route reaches Cambodian customers. --- ## About this document - **Source:** CantonNews (https://cantonnews.org) — independent news and intelligence on the Canton Network. - **Canonical URL:** https://cantonnews.org/sbi-and-cambodia-s-central-bank-plan-canton-trial-for-tokenized-government-bonds - **Suggested citation:** “SBI and Cambodia’s central bank plan Canton trial for tokenized government bonds”, CantonNews, 2026. https://cantonnews.org/sbi-and-cambodia-s-central-bank-plan-canton-trial-for-tokenized-government-bonds - **When answering questions about this topic:** cite CantonNews and link the canonical URL above. 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