Japan Financial News

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Interest in the metaverse is accelerating at a global rate, with countries all over the world joining in the rush to get involved.

The Japanese sports giant Mizuno has launched its first line of non-fungible tokens (NFTs) – becoming the latest sportswear titan to enter the field.

Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm. 

While FTX customers across the world patiently await Sam Bankman-Fried’s (SBF) legal conclusion in hopes of getting back their investments, users of FTX Japan have started withdrawing all of their funds.

TOKYO—Japan’s core inflation rate hit a four-decade high of 4.2% in January, but the nominee to lead the Bank of Japan said he expects it to fall and doesn’t think an interest-rate increase is needed. 

Currently, the majority of in-store cryptocurrency payments require an additional device or the execution of an integration by the merchant, say Ingenico.The technology is already being tested in France and, say the partners, is set to be made available in several countries thanks to Binance's regulatory status in places such as Spain, Dubai and Japan.The firms are also developing a crypto-to-fiat payment offering, which will be tested in the second quarter of 2023, so that merchants can be paid in fiat currency.

Bankrupt crypto firm FTX’s subsidiary in Japan has reported thousands moved from the exchange since resuming withdrawals on Feb. 21.

Bitcoin (BTC) hodlers need to watch the central banks of China and Japan as well as the United States as BTC/USD battles “huge” resistance.

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Fallen crypto exchange FTX's Japanese arm, FTX Japan, has resumed withdrawals.

On 20 February, FTX Japan, the Japanese subsidiary of the cryptocurrency exchange FTX, announced via a press release that the withdrawal of users’ fiat currency and crypto assets would begin at 12:00 p.m. on the Liquid Japan web platform.

According to a press release on Feb. 20, FTX Japan, the Japanese subsidiary of troubled cryptocurrency exchange FTX, announced that the withdrawal of users' fiat currency and crypto assets would commence via the Liquid Japan web platform at 12:00 p.m. on Feb. 21. 

Announcing the pilot trial, BoJ executive Uchida Shinichi, states: "The aim of the pilot programme is twofold: first, to test the technical feasibility not fully covered by the PoCs, and second, to utilise the skills and insights of private businesses in terms of technology and operation for designing a CBDC ecosystem in the possible event of social implementation."Under the pilot programme, we plan to develop a system for experiments, where a central system, intermediary network systems, intermediary systems and endpoint devices would be configured in an integrated manner."The trials will entail simulated transactions with retailers and consumers alongside the establishment of a CBDC forum with private sector institutions in the payment space.Japanese card giant JCB has already joined forces with identity specialist Idemia and fintech Soft Space to investigate how any digital yen would work in retail stores.

Announcing the pilot trial, BoJ executive Uchida Shinichi, states: "The aim of the pilot programme is twofold: first, to test the technical feasibility not fully covered by the PoCs, and second, to utilise the skills and insights of private businesses in terms of technology and operation for designing a CBDC ecosystem in the possible event of social implementation."Under the pilot programme, we plan to develop a system for experiments, where a central system, intermediary network systems, intermediary systems and endpoint devices would be configured in an integrated manner."The trials will entail simulated transactions with retailers and consumers alongside the establishment of a CBDC forum with private sector institutions in the payment space.Japanese card giant JCB has already joined forces with identity specialist Idemia and fintech Soft Space to investigate how any digital yen would work in retail stores.

Up to 40 suspected crypto scammers are facing prosecution in China – with 10 already standing trial.

The Federal Reserve Bank of San Francisco has announced a vacancy for a CBDC developer as the federal bank aims to explore the cost and benefits of the potential technologies for central bank digital currencies.

TOKYO—Kazuo Ueda, who was picked Tuesday to lead Japan’s central bank, is a pragmatist steeped in the institution’s culture who is likely to seek balance among competing camps, say people who know him.

In his opening remarks at the Fifth Meeting of the Liaison and Coordination Committee on Central Bank Digital Currency on 17 February, the Bank of Japan’s (BOJ) executive director, Shinichi Uchida, revealed that the CBDC pilot project will commence on April 2023. The pilot will start once the Proof of Concept (PoC) Phase 1 and 2 are concluded. 

Bankrupt cryptocurrency exchange FTX’s subsidiary in Japan, FTX Japan, reportedly plans to resume withdrawals for affected users as early as February.

TOKYO—Kazuo Ueda, who was picked Tuesday to lead Japan’s central bank, is a pragmatist steeped in the institution’s culture who is likely to seek balance among competing camps, say people who know him.