Japan Post Bank, the country’s fourth-largest lender, said it’s evaluating whether to follow other financial services firms down the road of offering blockchain-based tokenized deposits.
The bank is initially considering “settlement methods linked to NFT and security token transactions.”
Currently, purchasing security tokens, which are blockchain-backed representations of financial securities, for example stocks, bonds, funds, or real estate shares, is thought to take around two days to resolve. But the tokenized deposits will enable the bank to “combine immediacy and transparency in settlement,” and settle transactions immediately.
Safety, security
The token will be pegged 1:1 to the Japanese Yen, and customers who have accounts at the bank will be able to convert their deposits into tokens, according to a 1 Sept statement. The bank will ensure the tokens are covered by deposit insurance, “allowing for safe and secure use.”
Japan Post Bank’s statement followed an earlier media report by Nikkei Asia about the potential launch of a digital currency for both individual and corporate customers during the 2026 fiscal year.
The tokenized deposit will be issued in DCJPY, a digital currency developed by DeCurret DCP, a Tokyo-based digital currency solutions company established in 2018, according to Nikkei Asia. Furthermore, DeCurret DCP plans to have local governments use DCJPY to pay subsidies and grants, which the Japan Post Bank will also consider, according to the report.
Youth appeal
The bank reportedly aims to increase convenience for its users, as many accounts lay dormant. Currently, there is about ¥ 190 trillion (USD $1.29 trillion), split throughout 120 million users. The bank hopes to gain a new wave of younger customers with the move, reports said.
