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Bank of Japan Boss Hints CBDC & Stablecoins Can Coexist

The Bank of Japan (BoJ) has indicated that regulated stablecoins and a central bank digital currency (CBDC) can coexist, and has given the clearest signal so far that Japan will launch a digital yen. BoJ Governor Haruhiko Kuroda spoke about the potential for stablecoins to carry out conventional payment functions and their use in settlements. He also spoke of technological progress that could soon see Japanese businesses using stablecoins and a CBDC for cross-border transactions, potentially helping to streamline the conventional banking system. The BoJ has been working on a prototype digital yen for over two years and Kuroda suggested that Japan would "have to realize" a CBDC "in the future."

(By Tim Alper)

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