Japan Post Bank has announced plans to launch a digital yen by the end of fiscal 2026, aiming to make digital financial transactions easier and more efficient for its depositors.
The bank, which manages around 190 trillion yen (1.29 trillion US dollars) in deposits, is joining the growing number of domestic institutions exploring blockchain technology to streamline financial services. In partnership with DeCurret DCP, it will introduce a digital currency called DCJPY for its customers, the companies said in a joint statement.
Once rolled out, depositors will be able to convert their yen into DCJPY and use it for instant transactions involving digital securities and other blockchain-based assets.
“Our tokenized deposit currency under consideration will offer instant, transparent transactions using blockchain technology,” Japan Post Bank and DeCurret DCP, a subsidiary of Internet Initiative Japan, said in the statement.
DCJPY is designed as a blockchain-based deposit currency that is fully backed one-to-one by fiat yen. Unlike stablecoins, which are typically pegged to a fiat currency, DCJPY represents a direct digital version of deposits, ensuring full transparency and security.
The move reflects Japan’s broader efforts to integrate blockchain technology into mainstream financial systems, offering depositors faster and more reliable ways to conduct digital transactions.
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