Japan Post Bank, one of Japan’s largest banks, announced that it will launch its own digital currency, DCJPY, in fiscal year 2026, pegged to customer deposits and at a 1-to-1 ratio with the yen.

With this move, the bank “will seek to transform dormant deposits into digital assets and attract new generations of investors.” The bank is also focused on “changing the way traditional savings relate to blockchain-based assets, such as security tokens and NFTs.”

Japan Post Bank is taking an important step toward offering new generations of investors direct access to digital assets.

The financial institution’s customers will be able to instantly convert yen to digital currency, thanks to a direct connection between traditional savings accounts and DCJPY wallets, a project by DeCurret DCP, a Tokyo-based company specializing in digital currency trading.

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Source: cripto247

(Reference image source: Deng Xiang on Unsplash)

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La entrada Major Japanese bank to launch its own digital currency in 2026 apareció primero en Bitfinance.

The Policy Council of the Bank of Japan (BoJ) decided this Tuesday to maintain its ultra-loose monetary stance, with the reference interest rate at -0.1 %, although it has announced that it will increase flexibility in controlling the yield curve. bond yields, at the same time that it has raised its inflation forecast for 2023 to 2.8 %, compared to the 2.5 % anticipated last July.

With its decision this Tuesday, the institution led by Kazuo Ueda has unanimously agreed to maintain the reference interest rate at -0.1%, the same rate it has been applying since January 2016, when it entered negative territory for the first time in its history.

Likewise, the Japanese central bank has decided to continue purchasing the necessary amount of Japanese Government Bonds (JGB) without establishing an upper limit so that the yields of the 10-year Japanese public debt remain around zero percent.

However, it has announced that it will increase the flexibility of its public debt yield curve control policy, setting the upper limit of 1 % for the yield of Japan’s 10-year bond as a “reference in its market operations.”

In this way, the institution will continue to purchase Japanese sovereign bonds with maturity of 10 years on a “large scale” and “agile” market operations to continue “patiently” with monetary easing.

Increase in inflation forecasts

On the other hand, the Bank of Japan has revised upward the expected inflation for 2023 to 2.8 %, compared to the 2.5 % projected last July.

Looking ahead to next year, the entity expects prices to rise by 2.8 %, nine tenths more than previously anticipated, while for 2025 it has raised its forecast by one tenth, to 1.7 %.

The institution has assured that it will continue with the monetary policy of quantitative and qualitative easing (QQE) with yield curve control with the objective of achieving its inflation objective, set at 2 %.

Source: dpa

(Referential image source: David Edelstein, Unsplash)

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La entrada Bank of Japan relaxes bond yield margin to 1 % apareció primero en Bitfinance.

The Bank of Japan announced that it will carry out tests with a digital currency, conceived in response to the boom in digital payment services and cryptocurrencies, and in line with initiatives undertaken by other reference entities.

The financial entity will study “the basic functions of issuance, distribution and payment” of the digital currency, as explained in a statement. This phase will last until March 2022 and will focus on exploring the “technical viability” of the currency, said the BoJ, which did not mention more details about the project.

The institution announced last October that it would launch this initiative in three phases, with the aim of adapting to the “rapid development of digitization” in financial services.

The entity considers it is necessary to “prepare deeply to respond to these circumstances”, although it specified then that “for the moment” it has not considered to issue its own digital currency.

Likewise, the next phase of the BoJ project will address the security and anonymity aspects of currency users, and its final stage could include the launch of a pilot program with the participation of the private sector.

Source: doblellave

La entrada Japan to experimentally test digital currencies apareció primero en Bitfinance.