The Japanese Financial Services Agency, Ministry of Finance, Bank of Japan (BOJ), and major financial institutions are expected to form a study group this summer, aiming to develop a plan by early 2027. The system is expected to eliminate current settlement delays, reduce counterparty risk, and eventually support international remittances, marking a significant step in Japan's modernization within one of the world's largest financial markets. This infrastructure could be operational within the next few years, possibly as early as the early 2030s.