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Japanese banks to test digital currency
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finextra.comMitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group are among the firms from a range of industries backing the tentatively named Digital Currency JPY (DCJPY) project, which has been in the works since last year. The consortium has now released a progress report and a white paper.
The digital currency will be backed by bank deposits and use a shared platform to accelerate fund transfers and settlement between companies. While there will be a shared platform, a separate "business process area" will mean that the currency can be programmed to meet different business needs of the participants.
Read more on finextra.comAbout this in other media
Japanese Regulator Eyes Stablecoin, Wallet Provider Regulations in 2022 cryptonews.com /2 years ago
China’s Digital Currency Challenge: Winning Hearts and Minds wsj.com /2 years ago
ZCash surges 7% after Digital Currency Group CEO announces $85M purchase cointelegraph.com /2 years ago
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