Bank of Japan to begin testing CBDC

Yen on computer screen

The Bank of Japan will begin technical testing of a digital yen, becoming the latest to experiment with central bank digital currency (CBDC).

The BoJ will commence a proof-of-concept process to study the feasibility of the digital yen, the central bank says in a research paper published on July 2. It has not revealed a timetable.

The announcement came as a surprise to many, after BoJ governor Haruhiko Kuroda said the Japanese public had little interest in CBDC in a speech last December.

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