A digital yen will make the crypto market ‘more lively,’ says Monex CEO

Oki Matsumoto, the head of Japanese financial services giant Monex, has welcomed the Bank of Japan's recent interest in central bank digital currency. Earlier this fall, the Bank of Japan announced its plans to begin testing a central bank digital currency proof-of-concept in 2021.

Over 30 Japanese Firms to Conduct Digital Yen Pilot Test

Major Japanese companies from various sectors will collaborate to engage in a pilot test to issue a private digital currency or Digital Yen.

Japan May Take Several Years To Issue a CBDC says Former BoJ Executive

Hiromi Yamaoka, a former executive of the Bank of Japan believes the central bank will need several more years before it can issue its proposed CBDC.