Bank of Japan to start testing digital yen

Bank of Japan
Bank of Japan

Japan’s central bank is set to launch a pilot for a digital yen in the first quarter, according to Japan’s public broadcaster, NHK. 

In the first phase of the pilot test, the Bank of Japan (BoJ) will work with private businesses to test the basic functions of the central bank digital currency (CBDC). The tests will include the issuance and circulation details of the digital yen. The first phase is set to last for about one year, NHK reported on February 19.

The BoJ said it would not issue a

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