Japanese tokenized deposit solution DCJPY to launch in coming months

Last week, the Bank of Japan released a mid-term report on its work on central bank digital currency. It revealed that the CBDC API sandbox was launched this month. The Bank of Japan had previously conducted two proofs of concept (PoC) for the digital yen, the most recent of which ended a year ago. The Bank of Japan has not yet decided to launch a CBDC. Given that Japanese consumers have extremely low awareness of the concept, promotion may be difficult. The Bank of Japan has also been involved in the Agora project, a project of the Bank for International Settlements that uses tokenization for cross-border payments. Meanwhile, Japan's tokenized deposit solution DCJPY is expected to be launched in the coming months. (Ledger Insights)