Friday, 24 March, 2023

Japan's central bank to start digital currency pilot in April

<p>The Bank of Japan (BOJ) announced plans to launch a pilot of its digital currency in April 2023. The digital yen will be tested for its basic functions and compatibility with existing payment systems during the initial phase. The BOJ has been working on developing a central bank digital currency (CBDC) for several years in response to the rapid decline in cash payments in Japan.&nbsp;The bank has said the move to a CBDC could help ensure the stability&nbsp;of the country.</p>