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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