Bank of Japan to start experimenting with digital yen this spring

Governor of the Bank of Japan Haruhiko Kuroda said that active preparations for the issue of the digital yen will begin in the near future.

Experiments with CBDC will start this spring and will continue throughout 2021, he said. The issue of the digital yen is not planned yet, but the bank should thoroughly prepare, since such a possibility is not excluded in the future..

The Bank of Japan also does not want to lag behind the Central Banks of other countries, which are increasing the pace of development in this direction..

Bank of Japan to start experimenting with digital yen this spring

In the course of experiments, the regulator will test various options for stable and efficient next generation payment systems..

Last year, the Japanese government planned to include a digital yen launch into the country’s strategic development plan, but abandoned this idea due to high deployment costs and potential risks to the national economy.

text: Ivan Malichenko, photo: Financial Times

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