Not another blockchain demo—this is how T+1 settlement with tokenized deposits looks in a production-grade UI.
When Japan’s capital markets heavyweights set out to test digital bond issuance with tokenized deposits, the hard part wasn’t just the blockchain or the smart contracts. It was making all that complexity usable and trustworthy for real trading and operations teams.
Our role: a focused Front-End JavaScript team that turned a highly technical PoC into an institutional-grade Blockchain in Finance experience.
Context: Digital Bonds, Tokenized Deposits, Real-World Constraints
In the broader evolution of blockchain in finance, this project marked a key milestone for Japan’s capital markets.
A consortium led by D* Inc. partnered with major Japanese financial institutions, including a leading issuer, a major bank, and a digital securities platform operator.
The goal:
Issue and settle digital bonds on a blockchain-based platform using JPY digital currency (a tokenized deposit) for the cash leg, and achieve Delivery vs. Payment (DVP) settlement at T+1.
This initiative represented:
- The first use of tokenized deposits in Japan to settle digitized securities
- A testbed for a scalable, regulation-aligned digital bond issuance platform
- A foundation for future digital asset classes—equities, funds, and even real estate
Under the hood, the platform used “ibet for Fin” infrastructure and JPY tokenized deposits from the bank as programmable, bank-backed digital money.
Our mandate in this ecosystem: deliver a front-end that institutional users could trust with real-value workflows.
The challenge: if the UI fails, the PoC fails
Everyone talks about blockchain, tokenization, and smart contracts. But for a trader, an ops lead, or a compliance officer, the only thing they see is the screen.
For this PoC, the user experience had to solve four core challenges:
- Regulatory-grade clarity
Japan’s financial regulations are strict, and rightly so.
The UI had to make every action and state understandable, traceable, and auditable. No ambiguity on what was issued, traded, or settled. - Complex DVP workflows, simplified
The architecture needed to guarantee atomic DVP settlement:
- If the digital bond moved, the JPY tokenized deposit had to move
- If the cash leg failed, the bond transfer must not complete
The front-end had to reflect this with crystal-clear states and flows, not raw technical noise.
- Interoperability across three worlds
- Issuer
- Settling bank with the tokenized deposit
- Trading and issuance platform
Each world has its own systems, APIs, and operational habits. We had to abstract this into one seamless front-end.
- Institutional expectations, not consumer tolerance
This is not a casual app. The users expect:
- High responsiveness
- Predictable behavior
- No “mystery” states
- Strong feedback on every significant action
A glitchy, confusing UI would undermine confidence in the entire digital bond and tokenized deposit concept.
Our role: a focused FE JavaScript squad in a high-stakes PoC
We joined as an IT outsourcing partner, providing a 3-person Front-End (FE JavaScript) team dedicated to building the institutional interface on top of the issuance’s core system.
Our key responsibilities:
- Design and implement screens and flows for digital bond issuance, trading, and settlement
- Integrate with:
- The ibet for Fin platform for digital bond lifecycle events
- The settlement logic backed by JPY tokenized deposits for the cash leg
- Manage complex state transitions and real-time updates in a way that feels intuitive to market participants
- Align UX decisions with strict regulatory, operational, and risk requirements
We were not “just coding pages.” We acted as the human interface layer between:
- Blockchain and banking systems
- Product owners and compliance
- Architecture and actual users
This is exactly where blockchain in finance wins or loses: at the point where deep infrastructure meets human decision-making.
The solution: making tokenized DVP feel normal
We designed the front-end so tokenized deposits, atomic DVP, and T+1 settlement show up as clear states and intuitive workflows — not as a puzzle only engineers can decode.
1. Institutional-grade workflows, not fancy screens
We started from the workflows that matter:
- Issuing a digital bond
- Allocating and confirming trades
- Triggering settlement
- Monitoring whether DVP completed successfully
Every flow was translated into:
- Clear steps, with explicit “before/after” states
- Guardrails preventing invalid or risky actions
- Confirmations and summaries that could stand up to internal review and audit
The result: a front-end that feels much closer to a modern capital markets system than to a “blockchain demo.”
2. Surfacing atomic DVP in a human way
On the back end, the platform ensured atomic Delivery vs. Payment: cash and securities move together or not at all.
On the front end, we:
- Exposed synchronized statuses for both legs of the transaction
- Provided clear settlement states:
- Pending
- In progress
- Completed
- Failed/requires attention
- Ensured that error states were actionable:
- What went wrong
- What the user can do next
- When to escalate
In practice, this meant traders and ops teams could see at a glance whether a trade had truly settled and why.
3. Turning T+3/T+4 into T+1 you can see on screen
One of the headline outcomes of the PoC was moving from traditional T+3 or T+4 settlement to T+1.
The front-end played a key role in making that meaningful:
- Real-time updates and status indicators on the settlement pipeline
Clear timestamps and lifecycle views, showing when each stage completed - Dashboards that made it obvious how much capital was tied up, pending, or fully settled
Capital efficiency is not just a line in a slide deck. Our UI made it visible and manageable.
4. UI as the interoperability layer for humans
Behind the scenes, multiple systems had to coordinate:
- Issuance and trading on ibet for Fin
- Tokenized deposit management at the settling bank
- Records and oversight from issuer and other stakeholders
We used the front-end to hide that plumbing:
- Unified screens where users saw “one truth” about a trade or bond
- Consistent terminology, even when APIs and partners used different labels
- Robust error handling, so integration issues showed up as understandable messages, not cryptic failures
For the user, it all felt like one cohesive digital bond issuance platform.
Technologies we used
Front-end
Integration & Architecture
Security & Compliance
Outcomes: a blueprint for future digital assets
The PoC proved that T+1 DVP settlement of digital bonds using JPY tokenized deposits is not just feasible, but operationally usable, with atomic, blockchain-backed settlement that cuts counterparty and settlement risk.
On top of that, it delivered a front-end blueprint for how digital securities and tokenized cash should look and behave for institutional users—clean, auditable, and intuitive.
For the client, it validated that a small, senior FE JavaScript team can deliver institutional-grade UX for complex digital asset workflows, while creating reusable UI patterns that can extend to future tokenized products, including equities, funds, real estate-based tokens, and beyond.
What this means for blockchain in finance and capital markets leaders
If you are a CTO, Head of Engineering, or transformation lead exploring:
- Digital bond issuance platforms
- Tokenized deposits or bank-backed digital currency
- Digital securitie /security tokens
- Post-trade and settlement modernization
→ you already know the technical and regulatory complexity.
Where many initiatives stumble is the last mile:
- The workflows are technically correct but operationally unusable
- The UI does not inspire confidence in desks, ops, or compliance
- Integration complexities leak through to the user experience
This project proved that:
- Focused IT outsourcing services with deep FE JavaScript and blockchain in finance experience can own that last mile
- You can expose blockchain-based capital markets infrastructure in a way that feels familiar, safe, and efficient to your teams
- You can validate new models—like T+1 settlement with tokenized deposits—without compromising on institutional standards.
If you are planning or running a digital asset or capital markets PoC and need an external team that speaks both code and capital markets, we can help you turn that complexity into an interface your users will actually trust and use.
