BOJ eyes pilot experiments next year to issue digital yen - source

Banknotes of Japanese yen are seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/Illustration

TOKYO (Reuters) -The Bank of Japan (BOJ) will begin preparations to conduct a pilot experiment with private financial institutions next year towards issuing a digital yen, a source familiar with the matter told Reuters on Wednesday.

The move, widely expected, will follow two years of experiments the BOJ has been conducting to decide whether to issue a central bank digital currency (CBDC).