Bank of Japan Envisions Tokenization of Current Deposits, Reports Say

Expectations for Immediate Settlements and Stablecoin Integration

The Bank of Japan is reportedly planning to tokenize a portion of its current deposits on the blockchain to facilitate settlements for businesses and banks. This was reported by the Nikkei on the first of the month.

This initiative would enable large-scale settlements around the clock, including weekends and nights when the current BOJ-NET does not operate. It aims to allow immediate settlements, reduce settlement costs, and enable automated settlements programmed with specific conditions. Notably, it is also expected to reduce the time and cost associated with international transactions.

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