DeCurret Holding has recently revealed its most awaited cryptocurrency project, DCJPY, which is set to launch in July 2024. This latest project is making waves in the world of digital currency and electronic payments.
The DCJPY network: a two-zone ecosystem
The DCJPY Network is the core of the project, containing two primary zones including the Financial Zone and the Business Zone.
- Financial Zone: It enables banks to create digital currency by minting deposits on the blockchain
- Business Zone: It is where transactions happen and will also be used for issuing various tokens, including nonfungible tokens, security tokens, and governance tokens.
Aozoro Bank a well-known commercial entity in Japan with 19 domestic branches is backing this digital currency. They’ll be the primary issuer of DCJPY, which will be supported by deposits in the Japanese yen.
In 2021, DeCurret announced a pool of 70 Japanese companies participating in the DCJPY Network, although the white paper doesn’t name them. DeCurret currently enjoying as it is getting support from 35 shareholding companies, including Japan Post Bank, Mitsubishi, and Dentsu Group, showing the project’s extensive industry connections.
On October 18, 2023, DeCurret will explain every aspect of this project as it is organizing an event in Tokyo, and it will not stream online.
Central Bank digital currency on the horizon
This news follows the Bank of Japan’s recent update on its central bank digital currency experiment. The Bank is considering the launch of a “digital yen” by 2026, which could bring significant changes to Japan’s financial landscape.
Meanwhile, Binance and Mitsubishi UFJ Trust and Banking Corporation are exploring the possibility of issuing stablecoins in Japanese yen and other foreign currencies, reflecting the growing interest in digital currencies in Japan.
As cryptocurrency continues to evolve, the DCJPY project and other developments in Japan’s digital currency landscape will be closely watched, as they demonstrate the changing landscape of digital finance.