Category: Bank of Japan

Asian CBDC projects: What are they doing now?

October 16, 2021

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The rapid growth of mainstream attention toward cryptocurrencies has forced the hands of numerous governments to create their digital alternatives. Over the past few years, interest from various jurisdictions has been pointed towards central bank digital currencies (CBDCs) — digital versions of government-issued fiat. Given their capacity to use blockchain technology to facilitate a simplified […]

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Bank of Japan governor says CBDC preparation can’t wait until hour of need

March 16, 2021

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In fresh remarks, Bank of Japan Governor Kuroda Haruhiko said that experiments with a domestic central bank digital currency will begin in spring 2021. 3663 Total views 19 Total shares Japan is taking a measured but attentive approach to global interest in central bank digital currency issuance. In his latest remarks published on Tuesday, Bank […]

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A digital yen will make the crypto market ‘more lively,’ says Monex CEO

November 25, 2020

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Oki Matsumoto, the head of Japanese financial services giant Monex, has welcomed the Bank of Japan’s recent interest in central bank digital currency. 7596 Total views 65 Total shares Earlier this fall, the Bank of Japan announced its plans to begin testing a central bank digital currency proof-of-concept in 2021. Further details of the institution’s […]

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Japan’s megabanks to lead experiment with digital yen

November 19, 2020

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Could a new, coordinated effort to digitalize the Japanese economy be strong enough to compete with residents’ persistent use of cash? 3014 Total views 7 Total shares Japan’s three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen. The group consists […]

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Former Bank of Japan exec says Japan will need years to issue digital yen

November 17, 2020

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A former Bank of Japan official is concerned about a digital yen triggering massive outflows from private bank deposits. 5174 Total views 36 Total shares Hiromi Yamaoka, former head of the payment and settlement systems department at the Bank of Japan, said that the country will likely need several years before it can issue a […]

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Will they or won’t they? Central banks eye each other’s digital currency moves

October 29, 2020

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Canada doesn’t want any “surprises” regarding central bank digital currencies. In a recent interview with Reuters, Bank of Canada Governor Tiff Macklem doubled down on the country’s contingency-plan approach to CBDCs, stressing that he sees no urgent need to issue one right now.  For Macklem, inter-state competition and coordination remains the key question when it […]

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