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Japan Post Bank, one of Japan’s largest financial institutions, plans to introduce its own digital currency in the 2026 fiscal year. The bank aims to tokenize customer deposits into digital assets, allowing them to trade blockchain-based products. This move will directly impact the bank’s $1.29 trillion in deposits and 120 million account holders.
Collaboration with DCJPY Token
According to a report by local media outlet Nikkei, Japan Post Bank will utilize the DCJPY token and network developed by DeCurret DCP, first announced in August 2024. DCJPY is backed by some of Japan’s biggest financial groups, including MUFG.
With the new system, customers will be able to instantly convert their savings into DCJPY tokens and use them to purchase tokenized securities targeting yields of 3% to 5%. This will allow transactions that traditionally take days in the financial system to settle almost instantly. The bank particularly aims to attract younger investors with this initiative.
Japan’s Push Toward Digitalization
The report adds that DeCurret DCP has been in talks not only with banks but also with local governments, with the goal of digitalizing subsidies and grants via DCJPY. So far, only GMO Aozora Net Bank has taken on the role of “minting bank” for DCJPY.
Japan Post Bank’s planned deposit token will function differently from a stablecoin. While stablecoins are issued by private companies, the deposit token will directly represent deposits at the bank and operate on a permissioned blockchain network.
Regulatory Developments
Nikkei also reported that the Japan Financial Services Agency is expected to approve the country’s first yen-denominated stablecoin, issued by Tokyo-based fintech JPYC, this fall. Meanwhile, the Japanese government is considering changes to tax regulations to encourage crypto trading and pave the way for official ETF offerings.
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