DeCurrent, a Japanese crypto exchange, is building a study group to look into the development of a digital settlement infrastructure using “valuable digital currencies” in the country.
Announced on Thursday, the study group will include participation from three Japanese “megabanks” – Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation – along with a few companies and experts.
The group will be chaired by Hiromi Yamaoka, the former head of the payment and settlement systems department at the Bank of Japan.
The primary purpose of the study group will be to examine and discuss challenges and solutions concerning digital currencies and digital settlement infrastructure. It will also try to create a consensus towards the industry and present a direction for standardizing services and infrastructure.