Reported 2 days ago
A senior Bank of Japan (BOJ) official emphasized the need for Japan to innovate its payment systems as the country adopts a cashless society, despite having no current plans to issue a central bank digital currency (CBDC). Kazushige Kamiyama pointed out that while banknote issuance remains high, the usage of cash could decline due to increasing digitalization. He urged for a focus on making Japan's retail settlement system more convenient, efficient, and secure, while the BOJ continues its discussions and experiments regarding a digital yen in preparation for any future decision on a CBDC.
Source: YAHOO