DeCurret Holdings, a digital currency and electronic payments firm, recently published a white paper on its cryptocurrency project, the “DCJPY.” The organization plans to launch the coin in July 2024.
The DCJPY Network will include two zones: a Financial Zone and a Business Zone. The Financial Zone is composed of banks minting deposits as digital currency on the blockchain, while the Business Zone will facilitate transactions and issue nonfungible, security, and governance tokens. The leading issuer of the DCJPY, which is backed by deposits in Japanese yen, is the Aozora Bank, a commercial entity with 19 domestic branches in Japan. DeCurret, which is backed by 35 shareholding companies, including Japan Post Bank, Mitsubishi, and Dentsu Group, announced a consortium of 70 Japanese companies that will participate in the DCJPY Network.
DeCurret will hold a seminar on the white paper and its main points on Oct. 18 in Tokyo. The Bank of Japan released the results of the second phase of its central bank digital currency experiment in May 2023 and will decide whether to issue a “digital yen” by 2026. Binance and Mitsubishi UFJ Trust and Banking Corporation are also exploring the issuance of Japanese yen and other foreign currency-denominated stablecoins in the country.
