Last week, the Bank of Japan released an interim report on its central bank's digital currency efforts. It revealed that the CBDC API sandbox was launched this month, and the Bank of Japan has previously conducted two proof-of-concept (PoC) for digital yen, the most recent of which ended a year ago. The Bank of Japan has not yet decided to launch a CBDC. Given the extremely low awareness of the concept among Japanese consumers, promotion may be difficult.
The Bank of Japan is also involved in Project Agora, a BIS project using tokenization for cross-border transfers. Meanwhile, DCJPY, the first Japanese tokenized deposit solution, is expected to launch in the coming months.
Japanese tokenized deposit solution DCJPY will be launched in the coming months
2024-04-29 10:24:46
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