BOJ to start central bank digital currency tests next fiscal year

FAN Editor
FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo
FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020.REUTERS/Kim Kyung-Hoon

October 9, 2020

TOKYO (Reuters) – The Bank of Japan will conduct experiments on basic functions core to issuing central bank digital currencies (CBDCs) as early as possible during the fiscal year beginning in April 2021, the central bank said on Friday.

“The Bank will explore general-purpose CBDC in a more concrete and practical way by conducting experiments, rather than confining itself to conceptual research as before,” the BOJ said in a report explaining its approach on CBDCs.

(Reporting by Leika Kihara; editing by John Stonestreet)

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