Japan’s Central Bank Considers Crypto’s Role in Payments
Japanese officials are now openly discussing the potential of cryptocurrencies. They believe these digital assets might play a significant role in the country’s payment systems. This shift wasn’t always considered likely. However, the Bank of Japan (BOJ) is now taking it seriously.
BOJ’s Executive Director, Kazushige Kamiyama, recently hinted at this change. He noted that while cash usage remains high, digital payments could surge. This could even challenge the yen’s dominance. The BOJ is testing a digital yen.But they’re also watching crypto’s growth closely.
Japan’s cashless payment rate hit 42.8% in 2024. This is a huge jump from 13% in 2010. The country’s digital conversion is speeding up. The BOJ’s pilot program
