Japanese central bank official: With the cashless society trend, Japan must pursue payment innovation.

A senior official at the Bank of Japan said on Wednesday that Japan currently has no plans to issue a central bank digital currency, but as society becomes increasingly cashless, there is a need to continue innovating payment and settlement systems. Kazumasa Iwata, head of the Bank of Japan's financial stability department, said that although the circulation of paper currency in Japan is still high, with the rapid development of digitization, the future use of paper currency may decrease significantly.