#QuickTakes By

Japan To Launch Digital Yen Soon

Scribbled Arrow

TRENDING GLOBALLY

-: FOLLOW US :-  @theinsaneapp

Bank of Japan (BOJ) is launching a pilot program to test the use of a digital yen.

-: FOLLOW US :-  @theinsaneapp

BOJ has been testing for two years to decide whether to issue a digital yen.

-: FOLLOW US :-  @theinsaneapp

The pilot program will involve simulated transactions with private entities.

-: FOLLOW US :-  @theinsaneapp

BOJ's aim is to prepare to launch a digital yen if the government decides so.

-: FOLLOW US :-  @theinsaneapp

BOJ joins a growing list of central banks developing CBDCs.

-: FOLLOW US :-  @theinsaneapp

BOJ's digital yen would be a legal tender.

-: FOLLOW US :-  @theinsaneapp

BOJ has been cautious about the risks of CBDCs on the financial system.

-: FOLLOW US :-  @theinsaneapp

The use of CBDCs could increase financial inclusion and reduce transaction costs.

-: FOLLOW US :-  @theinsaneapp

BOJ's pilot program will last for a year.

-: FOLLOW US :-  @theinsaneapp

The launch of a digital yen could still take years to come to fruition.

#GIVEAWAY BY INSANE

Do you know that we give away around $250 USd in cash prizes every week?

Let’s grow together!