BOJ will continue experiments for issuing CBDCs: Kuroda

FILE PHOTO: Bank of Japan Governor Haruhiko Kuroda speaks during a news conference, in Tokyo, Japan June 16, 2020 in this photo distributed by Kyodo. Mandatory credit Kyodo/via REUTERS

TOKYO (Reuters) - The Bank of Japan will work closely with overseas central banks in conducting experiments on issuing its own digital currency in the future, BOJ Governor Haruhiko Kuroda said on Wednesday.

“The BOJ does not have any plan to issue central bank digital currencies (CBDC) now,” Kuroda said in an online meeting with business leaders in Osaka, western Japan.

“But technology progresses rapidly, which means the public’s request for us to issue CBDCs could heighten sharply,” he said. “It’s therefore important for us to be ready with close cooperation with overseas central banks.”

Reporting by Leika Kihara; Editing by Chang-Ran Kim