The Bank of Japan (BOJ) has initiated a series of discussions with 60 firms, including some industry giants like Sony and Toyota, as part of a pilot program exploring the development of a digital yen. These discussions will delve into business and technological aspects of retail settlements using a Central Bank Digital Currency (CBDC). Despite the ongoing discourse, no decision has been made on whether Japan will issue a digital yen. This move comes as central banks around the world are increasing efforts to develop digital versions of their currencies for retail use, with the Bank for International Settlements estimating that around two dozen CBDCs could be in circulation by the end of the decade.
Source: https://www.reuters.com
