News: JPY
2022-11-23 15:27
BOJ to conduct digital yen trial with Japan's 3 megabanks, others - Nikkei
The Bank of Japan will start a trial with an eye on launching a digital yen with Japan's three megabanks and regional banks next spring, the Nikkei newspaper reported.
The central bank could decide in 2026 whether to issue a digital currency after verifying issues for two years, such as whether there are problems with deposits and withdrawals from bank accounts, Nikkei said.
A spokesperson for the BOJ was not immediately available to comment on Wednesday, a public holiday in Japan.
The move was widely expected. It will likely come after the BOJ wraps up a second phase of its central bank digital currency (CBDC) experiment that started in April and will last about a year.
Kuroda also called at a seminar at that time for increased efforts by global policymakers to contain risks that may emerge from the wider use of private digital currencies.
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source: reuters.com