ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Japan to launch bank-deposit-backed digital currency in 2022

Top lenders, railway and NTT join trial run for blockchain-based e-money

A consortium of over 70 Japanese companies look to launch a digital currency as early as 2022.   © Reuters

TOKYO -- A new digital currency backed by bank deposits is set for a test run in Japan as early as this year, an effort that will involve the nation's top banks and about 70 other companies and organizations.

The test run will focus on the digital currency's feasibility for low-cost business transactions, such as large payments between companies. The group aims to bring the currency into circulation as soon as the latter half of 2022.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more