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BOJ Starts New Digital Currency Trial

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The Bank of Japan will start a new test on the feasibility of a central bank digital currency in April.

The test will be joined by private-sector companies including payment service providers and financial institutions.

The Japanese central bank kicked off the first phase of its CBDC test in April 2021, followed by the second phase in April 2022, in which connections to external systems and other issues were tested.

The new test will focus on issues related to using a CBDC on smartphones and other personal devices while the new system will be linked to private financial institutions.

General consumers will not participate in the new experiment, but BOJ employees may join the trial.

Read the full article HERE.

ripavi saunat

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