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BOJ plans digital yen experiment with mega-banks next spring

Japan Times LogoJapan Times2d ago

BOJ plans digital yen experiment with mega-banks next spring

Quick Summary

If the BOJ decides to issue a digital yen, one viable option would allow consumers to use the currency via a special app on their ...

The Bank of Japan plans to start testing the feasibility of a digital yen with major Japanese commercial banks next spring, sources familiar with the matter said Thursday.

The experiment, which will allow ordinary consumers to participate, is aimed at checking whether money deposits and withdrawals via bank accounts at commercial banks can be carried out smoothly with the use of a central bank digital currency (CBDC), the sources said.

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News Analysis

Author / Journalist: No Author

Category: Nation Politics

Topics: Commercial Allow List Japan Plan Bank Banks Subscription Sites Digital Sources

Source Website Secure: Yes (HTTPS)

Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

News Source URL:

Readership Location: Japan

Published Date: 2022-11-24, 18:55:49

News Timezone: GMT +9:00

Language: English

Original Article Length: 220 words

Reading Duration: 2 minutes read

Compatibility: Desktop Web, Mobile Web, iOS App, Android App

News ID: 5568646

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Japan Times Logo

Name: Japan Times

Main Topics: NationPolitics

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Update Frequency: 40 posts per day

Last Update: 13h ago

Headquarters: Japan

Coverage Areas: Japan

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Publication Timezone: GMT +9:00

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