According to the report by Nikkei, representatives from several central banks, including Europe, Japan, Canada, Sweden, Britain, and Switzerland, will discuss digital currencies and their own CBDC. The planned meeting will take place in Washington in April.
Banks to discuss how digital currencies could streamline international payments
The Bank of International Settlements (BIS) will also attend the planned meeting. It is reported that the major central banks will discuss how digital currencies could streamline international payments and share their findings on central bank-issued digital currencies. The deputy governor of Japan’s central bank, Masazumi Wakatabe, said that it is quite natural to consider how to make international transactions more convenient.
Bank of Japan is setting up to launch its digital currency.
As reported earlier, a senior official from the Bank of Japan said that the bank has to be ready and deliver if demand for a centralized cryptocurrency increases in the country. Bank of Japan official, Masayoshi Amamiya, noted that the organization is preparing for the reality of a digital yen.
China is all set to become the first major nation to issue its CBDC this year. However, the People’s Bank of China has not released any official timeline for the launch of the cryptocurrency, but it is expected to launch sometime this year.