Japan Post Bank to Launch DCJPY Digital Currency by 2026

Japan Post Bank, with over $1.3 trillion in deposits and 120 million account holders, is set to introduce its digital deposit currency, DCJPY, by 2026. The MOVE signals a major shift in Japan's financial landscape, leveraging blockchain technology to modernize transactions.

The DCJPY will operate on a permissioned blockchain developed by DeCurret DCP, backed by Mitsubishi UFJ Financial Group (MUFG). Unlike traditional stablecoins, it will represent direct bank deposits with a 1:1 redemption ratio to the Japanese yen. GMO Aozora Net Bank is currently the sole authorized issuer.

Proof-of-concept trials have demonstrated the system's potential to streamline securities settlements, reducing multi-day processes to near-instant execution. The initiative also aims to attract younger users through reduced transaction friction and tokenized securities.