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Bank Of Japan Completes Proof Of Concept And Begins Pilot For Japanese CBDC

By  |  July 7, 2023

By: Kurtis G. Anderson , Stephen M. Anstey (Kilpatrick Townsend)

The Bank of Japan has recently concluded its two-year proof-of-concept research on a potential central bank digital currency (CBDC) and has subsequently initiated a pilot program. This places Japan among the largest economies globally to progress to the pilot stage of CBDC development. Financial experts project that by 2030, CBDCs worth $5 trillion could be in circulation, reaching up to 4 billion individuals. As the third largest economy, the potential introduction of a digital yen carries substantial implications for global financial systems and the advancement of financial technology related to digital assets…

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