A BoJ official says bank should be prepared to launch CBDC if need arises.

A Bank of Japan official said that the country must brace itself for the issuance of central bank-backed digital currency. The central bank's deputy governor said that given the speed of technical innovation, the Japanese public might soon demand a CBDC.

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A senior official of the Bank of Japan asserted that the central bank must be ready to issue a central bank digital currency if the public demands it. Masayoshi Amamiya, Bank of Japan deputy governor, remarked that the country must be prepared to introduce a CBDC if the need arises.

 

“Public demand for a CBDC could sour in Japan.”

According to the Reuters report, Masayoshi Amamiya opined that depending on how things take shape in the world of payments, public demand for a CBCD could sour in Japan, and the bank should be prepared to deliver it. Japan is not the only one that is looking into launching a centralized digital currency. China is also expected to launch its DCEP sometime this year.

 

Cambodia will launch its digital currency this year.

As reported earlier, the National Bank of Cambodia is all set to launch its national centralized digital currency. Chea Serey, director-general of the National Bank of Cambodia, said that the system would be operational in the current quarter of this fiscal year. Che Serey described the national digital currency, Bakong, as the national payment gateway for the country.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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