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Cryptocurrencies

Pacific island nations probe digital currencies with Tokyo startup

Soramitsu to run feasibility studies in Fiji, Solomon Islands, Tonga and Vanuatu

Fresh produce sold at the Efate Port Vila Market in Vanuatu, one of the four Pacific island nations considering issuing a digital currency. (Photo courtesy of the Asian Development Bank) 

TOKYO -- Four Pacific island nations have started to consider issuing their own digital currencies with Tokyo-based startup Soramitsu providing assistance with the feasibility studies.

Soramitsu will first survey and analyze the financial infrastructures of Fiji, the Solomon Islands, Tonga and Vanuatu. This will include the state of payments between financial institutions, the spread of a cashless economy and the roles played by fund transfer agents.

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