Japan Post Bank to Pioneer Digital Yen by FY2026
Japan Post Bank has announced that it will launch a “digital yen” by the end of fiscal year 2026, aiming to enable depositors to conduct digital financial transactions with greater ease, according to a Reuters report.
The report stated that the institution, which holds deposits worth nearly 190 trillion yen, has undertaken an initiative to modernize its transaction processes through blockchain technology.
The digital currency will be named DCJPY and developed by DeCurret DCP. Customers of Japan Post Bank will be able to convert yen directly into this digital currency and carry out instant transactions.
The currency will be fully backed on a one-to-one basis with conventional yen and will ensure transparent and swift transactions through blockchain technology. However, it is not classified as a stablecoin but rather as a deposit-based digital currency.
