skip to Main Content
bitcoin
Bitcoin (BTC) $ 98,613.42 0.23%
ethereum
Ethereum (ETH) $ 3,467.66 4.37%
tether
Tether (USDT) $ 1.00 0.16%
solana
Solana (SOL) $ 262.51 2.32%
bnb
BNB (BNB) $ 674.44 8.07%
xrp
XRP (XRP) $ 1.57 9.29%
dogecoin
Dogecoin (DOGE) $ 0.461208 14.21%
cardano
Cardano (ADA) $ 1.13 23.64%
usd-coin
USDC (USDC) $ 0.999186 0.19%
staked-ether
Lido Staked Ether (STETH) $ 3,464.60 4.18%

30 Japan Firms to Collaborate on Private Digital Yen: Reuters

Tokyo, Japan
(Sofia Terzoni/Pixabay )

30 Japan Firms to Collaborate on Private Digital Yen: Reuters

A group of Japanese companies has said it will develop and test a private digital currency that would work alongside cash.

  • Reuters reported Thursday that about 30 firms from sectors such as telecoms, utilities and retail will carry out the trials in 2021.
  • The digital yen would be built on a common settlement platform and issued by banks during the trials, later possibly being issued by other entities.
  • “We don’t want to create another silo-type platform. What we want to do is to create a framework that can make various platforms mutually compatible,” Hiromi Yamaoka, chair of the group and formerly an executive at the Bank of Japan, told Reuters.
  • The overarching aim would be to encourage people in the cash-loving country to use a digital form of money, the group said.
  • The Bank of Japan, which is the nation’s central bank, has also said it would work on a national digital currency and hold tests next year.
Loading data ...
Comparison
View chart compare
View table compare
Back To Top