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Japanese megabanks join consortium launching yen-based digital currency
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A consortium of roughly 70 Japanese companies, including the country’s biggest financial institutions, have joined forces to trial and launch a new yen-based digital currency in fiscal 2022, sending a strong signal that the private sector was embracing blockchain-based payment systems.
The new digital currency, dubbed “DCJPY,” will be backstopped by bank deposits and rely on a common platform to expedite large fund transfers and settlements among the participating companies, according to
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