TOKYO, July 20 (Reuters) - The Bank of Japan on Thursday kicked off a series of discussions with 60 companies on a pilot programme for developing a digital yen, joining peers around the globe ramping up efforts towards issuing digital versions of their currencies for retail use.
The discussions will touch on various themes including the business and technological features of retail settlements using a central bank digital currency (CBDC), the central bank said in a statement.
The BOJ has said no decision has been made yet on whether Japan will actually issue a digital yen, which must be made by the government and parliament.
But many big Japanese companies were included in the list of 60 firms selected to join the discussions, a sign Japan is moving steadily toward such a launch.
Central banks around the globe have been studying and working on digital versions of their currencies for retail use to avoid leaving digital payments to the private sector amid an accelerating decline in the use of cash.
Persons:
Lawson, Leika, Kim Coghill
Organizations:
Bank of Japan, Sony, Toyota, East Japan Railway, Bank for International Settlements, Thomson
Locations:
TOKYO, Japan, Central