The Bank of Japan said today (February 17) it will start a pilot programme in April to test the use of a digital yen.

The move follows two years of experiments that the Bank of Japan (BoJ) has been conducting to decide whether to issue a central bank digital currency (CBDC).

The central bank began the first phase of its proof-of-concept study on CBDC in April 2021, which focused on examining the technical feasibility of issuing a CBDC. The BoJ said it will complete the second phase of the