Overview
- Governor Kazuo Ueda announced trials to settle current account deposits on distributed ledgers for domestic interbank and securities transactions.
- The project, framed as an experimental sandbox, will study connections with existing payment and securities systems and draw on external experts.
- Experiments will explore tokenization features such as smart contracts and atomic transactions, with AI highlighted for analytics and risk controls.
- The BOJ continues participation in BIS-led Project Agorá to examine tokenized central bank deposits for cross-border payments.
- The retail CBDC pilot that began in 2023 remains in technical testing with no decision to issue a digital yen.