Setting the pace in central bank digital currency

The People’s Bank of China (pic) is leading after launching trials, whereas the Bank of Japan (BoJ) only began its CBDC project in April.

TOKYO: China’s progress toward issuing a central bank digital currency (CBDC) will have a huge impact on how quickly advanced economies follow suit, according to former top Japanese financial regulator Toshihide Endo.

Central banks have accelerated efforts to develop digital currencies to modernise financial systems.