Japan is considering central bank digital currencies (CBDCs) as part of its annual policy roadmap, responding to increased demand for cashless payments amid the pandemic. The government, in collaboration with the Bank of Japan (BOJ), aims to assess CBDC feasibility by engaging with international counterparts and conducting technological tests.
While cautious due to legal and social implications, Japan acknowledges the need to adapt to digital settlement trends accelerated by COVID-19, prompting a review of interbank transfer fees and a broader push for digital payment systems in the government’s economic growth strategy.
