BOJ will not mint digital currency as cash is still king in Japan

Tokyo

CASH is still king in Japan, and that means that the central bank does not see a need to mint a digital currency for now, according to the head of the FinTech Center at the Bank of Japan (BOJ).

"We aren't at the stage of considering issuing a digital currency because there is no demand," Yuko Kawai, the head of the BOJ division, said in an interview last week. "To begin with, do we really need a digital currency in the nation where cashless living isn't making much progress?"