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Finance

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.

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