Japan to Test Digital Yen in Early 2023 – Bitcoin Addict

The Bank of Japan is set to test the digital yen in early 2023, and it will likely involve consumers and private companies as well.

according to news media Nikkei According to the Bank of Japan, testing of the basic functionality of the Japanese digital currency (CBDC) is nearing completion, and if there are no problems, there will be phase 2 testing early next year. In the next test, the private sector will participate.

Previously, it was reported that the Bank of Japan trialed the digital yen with 3 large banks, and in this test, commercial banks have received good feedback.

How far has Japan tested the digital yen?

The Bank of Japan is considering issues such as transaction speed. which central bank It has yet to decide whether it is necessary to release a digital currency, stressing that national approval is needed.

Earlier, central bank governor Haruhiko Kuroda said that the central bank may not yet decide whether to launch a digital yen until 2026.

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