While the U.S. ramps up discussions of a digital dollar and China’s central bank digital currency (CBDC) draws near, Japan’s CBDC, otherwise known as the digital yen, is getting closer to its realization as well. Japan’s ruling Liberal Democratic Party member, Hideki Murai, explained in a recent interview this week that more clarity on the digital yen would be revealed next year.
Ruling Liberal Democratic Party Member Hideki Murai Says Clarity on the Bank of Japan’s CBDC Is Coming Next Year
In recent times, Japan has been discussing the creation of a digital yen and the country’s politicians have been mentioning the subject more frequently. In November 2020, the head of Japan’s Monex Group, Oki Matsumoto, told the press that a Bank of Japan (BOJ) issued digital version of the yen would “significantly enhance the interoperability of cryptocurrencies.” Monex Group purchased the Tokyo-based digital asset exchange Coincheck for $34 million in 2018.
Hideki Murai, Harvard graduate, former member