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Soramitsu CBDC Project Selected by Japan's METI for Multi-Country Demonstration

Japan's Ministry of Economy, Trade and Industry has chosen Soramitsu’s CBDC demonstration project, covering Papua New Guinea, Solomon Islands, Pakistan, Islamic Republic, and Palau, under its small-scale FS program.

Summary

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Terms & Concepts
  • CBDC: A Central Bank Digital Currency, representing a digital form of fiat currency initiated by central banks.
  • FS Program: A small-scale initiative under Japan’s Ministry of Economy, Trade and Industry designed to test innovative financial systems.
  • METI: Japan's Ministry of Economy, Trade and Industry, which oversees economic policy and digital innovation initiatives.