Is Japan planning to launch digital currency next year? Dozens of companies will start testing it in the coming months.

Around 70 companies, including Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group, begin testing in the coming months and plan to develop a digital portfolio by 2022.

A consortium of around 70 Japanese companies plans to start testing in the coming months and launch digital advantages in 2022.

At a press conference on Wednesday, Kazuhiro Tokita, CEO of cryptocurrency exchange DeCurret, who is the head of the group, temporarily referred to the digital currency "DCJPY" at a press conference on Wednesday. These digital advantages are supported by bank deposits and the use of a sharing platform to accelerate large-scale trading and the financial stability of companies.

The joint venture includes large companies such as Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group. These companies have been holding regular meetings since last year to learn more about ways to strengthen integration into digital payments.

Currently, our largest bank has announced its own digital payment platform, but the pace is still lagging behind tech companies like the SoftBank group's online payment site. PayPay. business. Alliance.

Besides our big banks, other financial companies such as Japan Post, brokerage and insurance companies, and non-financial companies such as Nippon Telegraph and Telephony Company (NTT), Kansai Electric Power Company and East have been included. Japanese Railway Company. Some companies will be involved to try to assess the practical application of digital advantages in markets such as energy for retailers.

Toshihide Endo, Director of the Financial Services Agency of Japan and now Special Advisor to DeCurret, said: Bank deposits will be eligible for the central bank programmable digital currency (CBDC) currently in use (in Japan). "

Currently, Japan's financial institution is also experimenting with a digital bank, and the actions of affiliates could affect the bank's success.

However, the Japanese police are pleased with no cash, but now Japan's money in the world and the amount of money in many the intervention.