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Bank of Japan Prioritizes Cash Over Digital Yen Development

6/5/2025

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Summary

Story summary

The Bank of Japan currently has no plans for a central bank digital currency (CBDC) due to prevalent cash usage.
Research efforts involve seven working groups collaborating with 64 companies on digital yen development.
Key challenges include scalability, privacy, and governance in blockchain integration.
Japan is engaged in Project Agorá to improve cross-border payments using CBDCs.

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Story summary

The Bank of Japan currently has no plans for a central bank digital currency (CBDC) due to prevalent cash usage.
Research efforts involve seven working groups collaborating with 64 companies on digital yen development.
Key challenges include scalability, privacy, and governance in blockchain integration.
Japan is engaged in Project Agorá to improve cross-border payments using CBDCs.