The Bank of Japan must be ready to issue central bank digital currencies (CBDC) that coexist with various other forms of money to offer the public a safe digital payment system, its governor Haruhiko Kuroda said on Tuesday.<\/p>\n
The central bank will start a pilot programme in April to test the use of a digital yen, joining a growing number of countries seeking to catch up with front-runner China in launching a CBDC.<\/p>\n
“Ensuring the coexistence of CBDC with various other forms of money … is something that we need to and will in fact achieve in the future,” Kuroda said in a speech delivered to a seminar on financial technology.<\/p>\n
“There are various options lying before us in terms of how and when to carry this out. But it’s our duty as a central bank to prepare ourselves to respond flexibly to any change in circumstances,” he said.<\/p>\n
The BOJ has said the pilot programme, which will follow two years of experiments it had been conducting, will help it be ready in case the government decides to issue a digital yen.<\/p>\n
Source: https:\/\/www.investing.com\/news\/economy\/kuroda-says-boj-needs-to-be-ready-to-issue-digital-yen-3041719<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bank of Japan must be ready to issue central bank digital currencies (CBDC) that coexist with various other forms of money to offer the public a safe digital payment system, its governor Haruhiko Kuroda said on Tuesday. The central bank will start a pilot programme in April to test the use of a digital […]<\/p>\n","protected":false},"author":1,"featured_media":408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpautop"],"translation":{"provider":"WPGlobus","version":"2.10.10","language":"es","enabled_languages":["en","nl","es","sv","fr"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"\r\n