Share this article
Bank of Japan Seeks ‘Plain, Easy-to-Cook’ CBDC Model
An executive director has stressed that the BoJ has “no plans to issue a CBDC at this time,.
Updated May 11, 2023, 5:21 p.m. Published Oct 15, 2021, 8:08 a.m.
The Bank of Japan (BoJ) would try to develop a central bank digital currency (CBDC) that can easily coexist with private payment methods, Executive Director Shinichi Uchida said in a speech.
- Seeking “vertical coexistence,” with other payment methods used by the public, a CBDC should be made of “relatively plan, easy-to-cook material,” Shinichi Uchida said on Friday.
- The central bank official cited an example in which a CBDC could be used within a digital wallet provided by a private company.
- “There are various options, but the Bank of Japan would like to work with you to draw an overall picture of the payment system when the CBDC exists,” he said.
- The director said the priority of the central bank is that the addition of a CBDC should enable competition between private payment systems providers, while also being universally accessible by the public.
- This position was also stressed in a statement, which was released on Wednesday, by the finance officials of the G7.
- Uchida added in his speech that the BoJ has “no plans to issue a CBDC at this time,” but that not issuing one would still leave the central bank with the task of building a payment system fit for the future.
Read more: CBDC Impact on Banking Sector Could Be Manageable: New BIS Report
STORY CONTINUES BELOW
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
Key U.S. Senator on Crypto Bill, Lummis, Negotiating Dicey Points With White House
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
What to know:
- Sen. Cynthia Lummis (R-Wyo.) said she is negotiating with the White House on behalf of Senate Democrats trying to insert ethics provisions into Congress' market structure legislation.
- Lawmakers should reveal a new draft market structure bill by the end of the week and hold a markup hearing next week, she said.
Top Stories
