Japan and Soramitsu to conduct Asia-Pacific CBDC studies

Observers note de-dollarisation and spread of e-yuan as potential motivations


Japanese fintech Soramitsu and the Japanese Ministry of Economic Trade and Industry will conduct a feasibility study on introducing a central bank digital currency (CBDC) across the Asia-Pacific region.

The project, announced on June 21, will work with central banks including those of Vietnam, Fiji and the Philippines, according to a press release by Soramitsu. The company previously built Cambodia’s CBDC, known as bakong. 

Earlier this year, Soramitsu also launched an Oceania CBDC study

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