Japan Post Bank to issue yen deposit-backed digital currency in fiscal 2026
8 days ago
- #digital-currency
- #Japan-Post-Bank
- #blockchain
- Japan Post Bank plans to issue a digital currency backed by deposits in fiscal 2026.
- The digital currency, DCJPY, will be linked to savings accounts and enable instant settlements.
- It will support purchases of digital securities, real estate, corporate bonds, and NFTs.
- Settlement times will be shorter compared to conventional transactions.
- The currency uses blockchain technology and is subject to deposit insurance protection.
- GMO Aozora Net Bank was the first in Japan to issue a commercial-use digital currency in 2024.