Japan launches Oceania CBDC study
Fintech firm Soramitsu will examine outlook for digital currencies in four Pacific island states
Japanese fintech firm Soramitsu is to research whether central bank digital currencies (CBDCs) could work in four Pacific island states. The project is part of a wider multilateral development partnership between Japan and 18 Oceanian governments.
Soramitsu’s work “will evaluate the potential risks and benefits of introducing central bank digital currencies and other novel digital assets”. It will also assess current wholesale and retail payments systems in Fiji, Vanuatu, the Solomon Islands
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