Share this article
30 Japan Firms to Collaborate on Private Digital Yen: Reuters
A group of Japanese companies plans to develop and test a private digital currency that would work alongside cash.
Updated Sep 14, 2021, 10:32 a.m. Published Nov 19, 2020, 8:58 a.m.
A group of Japanese companies has said it will develop and test a private digital currency that would work alongside cash.
STORY CONTINUES BELOW
- Reuters reported Thursday that about 30 firms from sectors such as telecoms, utilities and retail will carry out the trials in 2021.
- The digital yen would be built on a common settlement platform and issued by banks during the trials, later possibly being issued by other entities.
- “We don’t want to create another silo-type platform. What we want to do is to create a framework that can make various platforms mutually compatible,” Hiromi Yamaoka, chair of the group and formerly an executive at the Bank of Japan, told Reuters.
- The overarching aim would be to encourage people in the cash-loving country to use a digital form of money, the group said.
- The Bank of Japan, which is the nation's central bank, has also said it would work on a national digital currency and hold tests next year.
See also: Bank of Japan Forms New Team to Explore Central Bank Digital Currency
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
NFT Project Pudgy Penguins Takes Over Las Vegas Sphere in Holiday Campaign
The NFT brand’s animated segments will air on the Sphere across Christmas week, signaling the crypto company's move into real-world consumer markets.
What to know:
- Pudgy Penguins will run an ad campaign at the Las Vegas Sphere during Christmas week, one of the few crypto brands to secure a spot at the high-profile venue.
- The NFT project, which launched on Ethereum in 2021, has expanded into physical toys and digital gaming as part of a broader consumer push.
- Pudgy Penguins briefly overtook Bored Apes in floor price earlier this year and recently launched its PENGU token on Solana, now trading on major exchanges.
Top Stories
