Several Japanese firms are planning to carry out a common private test on digital assets in the coming year. According to a by The Block, more than 30 top companies, including financial institutions, are members of the trial group. The Bank of Japan and the Financial Services Agency are observers of the forum.
One of the trial participants, Japanese crypto exchange DeCurret announced the establishment of the “Digital Currency Forum” on the 19th of November. In the joint effort, the companies will test a “two-layered digital currency.”
The group plans to test the two-layered digital currency model with a common area and the major function of a blockchain-based central bank digital currency (CBDC). The group noted that the model would advance Japan’s economy.
The group said:
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