Express

Bank of Japan to Run Tests on Digital Yen

Katie Lin

Summary: The Bank of Japan (BoJ) is planning tests on a digital yen with three megabanks in the country, according to reports by Nikkei. The tests, which will begin in 2023, will ensure that there are no problems with deposits and withdrawals, and that a central bank digital currency (CBDC) can function at times of disaster ...

The Bank of Japan (BoJ) is planning tests on a digital yen with three megabanks in the country, according to reports by Nikkei.

The tests, which will begin in 2023, will ensure that there are no problems with deposits and withdrawals, and that a central bank digital currency (CBDC) can function at times of disaster and in places with no internet access, according to the report.

The tests will run for two years, after which the central bank will in 2026 decide on whether to implement the CBDC.

Author: Katie Lin

  • Mainnet Web3+AI Party Set to Illuminate New York City on September 20th 4 days ago
  • ARK Invest Acquires Rize ETF, Paving the Way for European Expansion 4 days ago
  • Balancer's Front-End Suffers Attack Resulting in $238,000 Loss 4 days ago
  • 【The Road to Innovation in Cryptocurrency】DAI's stumbling road of exploration 5 days ago
  • Could Crypto ETFs Catalyze the Next Bull Market? 10 days ago
  • You need to login to comment.