Seven central banks and private financial institutions from Japan, the US, and Europe to conduct digital currency demonstration experiments. We aim to create a system that will simplify cross-border payments and help prevent money laundering.
Currently, an international payment network called "SWIFT" is mainly used for payments such as trade, but since the money is sent through an intermediary bank, it takes time to complete the payment and fees are incurred. China is said to be taking the lead in issuing a "digital renminbi," and it appears that China is aiming to compete with China.