CB of Japan integrates its token into the payment infrastructure

by in Cryptocurrency News


During the last week, Shinichi Uchida, Japan's central bank spokesman, said that the regulator plans to integrate the digital yen into the existing payment infrastructure. That is, the Japanese authorities do not want to reform the financial sector and adjust it to the token.

Uchida stressed that private payment systems are going to also be able to integrate the digital yen. Work on creating a CBDC and assessing the consequences of introducing an innovative tool should start as early as the second quarter of 2022, the official promised.

In the Asia-Pacific region, in addition to Japan, China is also creating its digital currency. Moreover, the People's Bank of China has already begun testing the token in partnership with commercial banks and companies.