DCIO Launches to Promote Digital Currency and Payment Infrastructure in Japan

The Digital Currency Innovation Institute (DCIO) has officially started its activities on October 1st, after being announced on September 25th. The institution aims to promote the development and implementation of digital currency and payment infrastructure in Japan.

DCIO is a restructured organization from the Digital Currency Forum, which was established in 2020. Its main objective is to facilitate collaboration between financial institutions, companies, and local governments to implement tokenized deposits, a system that combines traditional banking with blockchain technology.

The institute plans to establish a shared guide for commercial flow, administration, and finance, as well as standardize and promote interconnectivity among various platforms. It will also engage in research, policy-making, and international standardization efforts.

DCIO has attracted over 40 member institutions, including major banks like SBI New York Bank and Mitsubishi UFJ Financial Group, as well as IT companies providing financial infrastructure. The list of members will be publicly disclosed by October.