Megabanks, cashless payment providers tie up for possible "digital yen"

Japan's three megabanks will join hands with East Japan Railway Co. and other cashless payment providers to study interoperable electronic money and digital currency, a cryptocurrency exchange operator said Wednesday in a project that could evolve into the introduction of the "digital yen" envisaged by the Bank of Japan.While a number of cashless payment services such as smart cards issued by railway operators and smartphone payments services are widely available in Japan, participants are expected to study how to make their services interoperable and more convenient for customers.They are …READ FULL ARTICLE